Insider Selling: Range Resources (NYSE:RRC) Director Sells $140,000.00 in Stock

Key Points

• Range Resources director Reginald Spiller sold 3,500 shares at $40.00 each, totaling $140,000. The sale reduced his holdings by 20.68%, leaving him with 13,421 shares.
• Range Resources reported quarterly EPS of $0.79, beating estimates of $0.66, while revenue of $759.58 million also exceeded expectations. However, revenue declined 2.7% year over year.
• The stock traded near $38.61, and analysts maintained an overall “Hold” rating with an average price target of $43.35. The company also pays a quarterly dividend of $0.10, equivalent to a 1.0% annual yield.

Range Resources Corporation (NYSE:RRC - Get Free Report) Director Reginal Spiller sold 3,500 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at approximately $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Range Resources Price Performance

RRC traded up $0.47 during trading on Thursday, reaching $38.61. 2,278,191 shares of the company were exchanged, compared to its average volume of 3,322,347. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company's 50-day moving average is $37.91 and its two-hundred day moving average is $39.76. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 10.67 and a beta of 0.42.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the previous year, the firm earned $0.66 EPS. The company's quarterly revenue was down 2.7% compared to the same quarter last year. Research analysts forecast that Range Resources Corporation will post 3.49 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources's dividend payout ratio is currently 11.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings downgraded Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group decreased their price objective on shares of Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 30th. Zacks Research lowered shares of Range Resources from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Wells Fargo & Company dropped their target price on shares of Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Finally, Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Range Resources has an average rating of "Hold" and an average price target of $43.35.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently added to or reduced their stakes in the company. Seelaus Asset Management LLC grew its stake in Range Resources by 2.6% in the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company's stock worth $440,000 after purchasing an additional 250 shares during the period. Root Financial Partners LLC lifted its position in Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock valued at $45,000 after buying an additional 276 shares during the period. UMB Bank n.a. boosted its holdings in shares of Range Resources by 13.0% during the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company's stock valued at $86,000 after buying an additional 279 shares in the last quarter. Confluence Wealth Services Inc. grew its position in shares of Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company's stock worth $360,000 after buying an additional 312 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in shares of Range Resources by 0.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company's stock worth $1,745,000 after buying an additional 330 shares during the period. Institutional investors own 98.93% of the company's stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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