Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh Sells 15,978 Shares

Range Resources Co. (NYSE:RRC - Get Free Report) VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $0.08 during midday trading on Thursday, reaching $37.69. The company had a trading volume of 4,254,440 shares, compared to its average volume of 2,592,524. The company's 50 day moving average price is $33.67 and its 200 day moving average price is $32.40. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a market cap of $9.13 billion, a P/E ratio of 19.13 and a beta of 1.83. Range Resources Co. has a 52-week low of $23.92 and a 52-week high of $38.25.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. As a group, sell-side analysts anticipate that Range Resources Co. will post 1.99 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's payout ratio is 16.24%.

Analysts Set New Price Targets

Several research firms recently commented on RRC. Susquehanna lifted their target price on shares of Range Resources from $34.00 to $36.00 and gave the stock a "neutral" rating in a research report on Monday. Raymond James dropped their price target on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 24th. Piper Sandler boosted their price target on shares of Range Resources from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Finally, Barclays started coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an "underweight" rating and a $35.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.40.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners lifted its holdings in shares of Range Resources by 1,858.7% in the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company's stock worth $194,722,000 after buying an additional 6,070,900 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company's stock worth $180,568,000 after purchasing an additional 90,028 shares during the last quarter. Invesco Ltd. increased its position in shares of Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company's stock worth $123,049,000 after purchasing an additional 693,970 shares during the last quarter. Kopernik Global Investors LLC increased its position in shares of Range Resources by 2.7% in the fourth quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company's stock worth $94,562,000 after purchasing an additional 82,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Range Resources by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company's stock worth $54,208,000 after purchasing an additional 64,810 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.

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