Range Resources Co. (NYSE:RRC) Director Charles G. Griffie Purchases 1,275 Shares

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Range Resources Price Performance

Shares of RRC opened at $31.49 on Thursday. The firm has a fifty day moving average price of $30.26 and a 200 day moving average price of $32.91. The stock has a market cap of $7.64 billion, a PE ratio of 15.98 and a beta of 1.80. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a return on equity of 13.73% and a net margin of 17.63%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, sell-side analysts anticipate that Range Resources Co. will post 1.89 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.02%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp grew its position in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after buying an additional 350 shares during the last quarter. Inscription Capital LLC increased its position in Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after acquiring an additional 433 shares during the period. Orser Capital Management LLC raised its stake in Range Resources by 1.0% during the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after acquiring an additional 550 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in Range Resources by 6.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Bank of America assumed coverage on Range Resources in a research report on Monday. They set a “neutral” rating and a $34.00 price objective on the stock. Stephens lifted their target price on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company cut their price target on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, October 25th. Finally, Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.00.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.