Range Resources (NYSE:RRC) Director Sells $310,800.00 in Stock

Key Points

• Director Brenda Cline sold 7,000 shares on April 7 at an average price of $44.40 for a total of $310,800, cutting her stake by 19.63% to 28,668 shares valued at about $1.27 million.
• Quarterly results and dividend: Range Resources beat expectations with $0.82 EPS (vs. $0.69 est.) and revenue of $786.9M (up 30.9% YoY), and raised its quarterly dividend to $0.10 ($0.40 annualized, 0.9% yield).
• Market and analyst view: RRC traded near $42.92 with a $10.11B market cap and a 52-week range of $31.27–$48.31, while analysts’ consensus is a "Hold" with an average price target of $43.06 and mixed ratings.

Range Resources Corporation (NYSE:RRC - Get Free Report) Director Brenda Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, the director directly owned 28,668 shares of the company's stock, valued at $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Range Resources Trading Down 0.9%

RRC stock traded down $0.41 during midday trading on Thursday, hitting $42.92. The stock had a trading volume of 3,843,058 shares, compared to its average volume of 3,492,361. The firm has a market cap of $10.11 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources Corporation has a 12-month low of $31.27 and a 12-month high of $48.31. The company's 50-day moving average price is $40.99 and its 200 day moving average price is $38.20.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. Range Resources's revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, equities research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from Range Resources's previous quarterly dividend of $0.09. Range Resources's dividend payout ratio is presently 14.60%.

Institutional Trading of Range Resources

Several institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its stake 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 during the period. Profund Advisors LLC grew its stake in shares of Range Resources by 5.5% during the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company's stock valued at $204,000 after buying an additional 282 shares during the period. Pinnacle Associates Ltd. boosted its position in Range Resources by 2.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company's stock worth $471,000 after purchasing an additional 302 shares during the period. Confluence Wealth Services Inc. boosted its position in Range Resources by 3.2% during 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 purchasing an additional 312 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 336 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on RRC. Mizuho lifted their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Weiss Ratings raised shares of Range Resources from a "hold (c)" rating to a "buy (b)" rating in a research note on Friday, February 27th. Zacks Research raised shares of Range Resources from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Bank of America reissued a "neutral" rating and set a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Finally, TD Cowen boosted their price objective on shares of Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.06.

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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