Range Resources Co. (NYSE:RRC) CFO Mark Scucchi Sells 49,569 Shares

Range Resources Co. (NYSE:RRC) CFO Mark Scucchi sold 49,569 shares of Range Resources stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $36.91, for a total transaction of $1,829,591.79. Following the transaction, the chief financial officer now owns 94,713 shares in the company, valued at approximately $3,495,856.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Range Resources Trading Up 2.8 %

NYSE:RRC opened at $38.85 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a 50-day moving average of $35.27 and a 200-day moving average of $32.56. The company has a market cap of $9.43 billion, a PE ratio of 19.72 and a beta of 1.85. Range Resources Co. has a one year low of $25.89 and a one year high of $39.33.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during 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 13.30%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, equities research analysts expect that Range Resources Co. will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Thursday, March 14th. Range Resources’s payout ratio is 16.24%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. Barclays began coverage on shares of Range Resources in a report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, April 24th. Morgan Stanley boosted their target price on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the company from $40.00 to $45.00 in a report on Thursday, April 11th. Finally, Susquehanna boosted their target price on shares of Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Five equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.81.

Institutional Investors Weigh In On Range Resources

A number of institutional investors have recently added to or reduced their stakes in RRC. Boston Partners grew its position in Range Resources by 1,858.7% in the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after purchasing an additional 6,070,900 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after purchasing an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. grew its position in Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after purchasing an additional 959,011 shares in the last quarter. Invesco Ltd. grew its position in Range Resources by 22.4% in the 3rd 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 in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Range Resources in the 3rd quarter worth about $19,704,000. 98.93% of the stock is owned by 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.