Range Resources Co. (NYSE:RRC) Director Acquires $40,111.50 in Stock

Range Resources Co. (NYSE:RRC - Get Free Report) Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $0.35 during mid-day trading on Monday, reaching $30.98. 2,095,173 shares of the company traded hands, compared to its average volume of 2,370,856. Range Resources Co. has a 52 week low of $27.29 and a 52 week high of $39.33. The firm has a market cap of $7.52 billion, a PE ratio of 15.68 and a beta of 1.80. The company's 50 day moving average price is $30.25 and its 200-day moving average price is $32.99. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.73%. The firm had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. During the same period in the prior year, the company posted $0.43 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts expect that Range Resources Co. will post 1.89 EPS for the current fiscal year.

Range Resources Announces Dividend

The company 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 1.03%. Range Resources's dividend payout ratio is currently 16.24%.

Wall Street Analyst Weigh In

RRC has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Range Resources in a research note on Thursday, July 18th. They set a "peer perform" rating for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research report on Thursday, September 12th. UBS Group decreased their target price on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating for the company in a report on Wednesday, September 18th. Finally, Barclays upgraded shares of Range Resources from an "underweight" rating to an "equal weight" rating and cut their price target for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.00.

Institutional Investors Weigh In On Range Resources

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after buying an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new position in Range Resources in the third quarter worth about $49,000. Fifth Third Bancorp increased its stake in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company's stock worth $57,000 after acquiring an additional 299 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in Range Resources during the second quarter valued at approximately $67,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Range Resources in the 2nd quarter valued at approximately $67,000. Institutional investors own 98.93% of the company's stock.

Range Resources Company Profile

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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