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

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $34.65 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 4,646 shares of the company’s stock, valued at $160,983.90. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Range Resources Stock Performance

Shares of NYSE RRC opened at $37.15 on Tuesday. The firm’s 50-day moving average price is $34.23 and its 200-day moving average price is $32.42. Range Resources Co. has a 52-week low of $24.61 and a 52-week high of $38.25. The company has a market cap of $9.01 billion, a PE ratio of 18.86 and a beta of 1.85. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.96 earnings per share. As a group, analysts anticipate that Range Resources Co. will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is currently 16.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Boston Partners grew its stake in shares of Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after purchasing an additional 6,070,900 shares during the period. Invesco Ltd. grew its position in Range Resources by 22.4% during the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after buying an additional 693,970 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Range Resources during the third quarter valued at approximately $19,704,000. Lord Abbett & CO. LLC increased its holdings in Range Resources by 66.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock valued at $47,416,000 after buying an additional 585,000 shares during the last quarter. Finally, Canoe Financial LP raised its position in Range Resources by 86.5% in the third quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after acquiring an additional 554,400 shares during the period. Institutional investors own 98.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on RRC shares. Piper Sandler raised their target price on shares of Range Resources from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. StockNews.com raised Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Barclays began coverage on Range Resources in a report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 target price on the stock. Mizuho restated a “buy” rating and issued a $41.00 target price (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Wednesday, April 24th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price of $36.62.

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.