Charles G. Griffie Acquires 1,500 Shares of Range Resources Co. (NYSE:RRC) Stock

Range Resources Co. (NYSE:RRC - Get Free Report) Director Charles G. Griffie acquired 1,500 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $34.65 per share, for a total transaction of $51,975.00. Following the purchase, the director now owns 4,646 shares of the company's stock, valued at $160,983.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Range Resources Trading Up 4.0 %

Shares of Range Resources stock traded up $1.44 during trading hours on Monday, hitting $37.15. The company's stock had a trading volume of 2,629,636 shares, compared to its average volume of 2,560,643. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. Range Resources Co. has a 12 month low of $24.61 and a 12 month high of $38.25. The stock has a 50 day moving average of $34.23 and a 200 day moving average of $32.42. The company has a market capitalization of $9.01 billion, a PE ratio of 18.13 and a beta of 1.85.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. Analysts predict that Range Resources Co. will post 2 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources's dividend payout ratio is currently 16.24%.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of research analyst reports. Stephens raised their price target on Range Resources from $41.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, April 24th. Royal Bank of Canada lowered Range Resources from an "outperform" rating to a "sector perform" rating and increased their price target for the company from $36.00 to $39.00 in a research report on Friday, April 26th. Truist Financial cut their price objective on Range Resources from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, April 5th. Stifel Nicolaus raised their target price on shares of Range Resources from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Finally, Piper Sandler upped their price target on shares of Range Resources from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $36.62.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in shares of Range Resources by 90.2% in the third quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company's stock valued at $257,000 after purchasing an additional 3,766 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Range Resources by 46.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company's stock valued at $760,000 after purchasing an additional 7,405 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Range Resources by 78.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company's stock worth $927,000 after purchasing an additional 12,617 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Range Resources by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company's stock worth $1,623,000 after purchasing an additional 7,509 shares during the last quarter. Finally, Strs Ohio lifted its holdings in Range Resources by 13.1% during the 3rd quarter. Strs Ohio now owns 29,807 shares of the oil and gas exploration company's stock worth $966,000 after purchasing an additional 3,457 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.