Range Resources Co. (NYSE:RRC - Get Free Report) Director Charles G. Griffie bought 1,275 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company's stock, valued at $186,274.66. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Range Resources Stock Down 1.1 %
Range Resources stock opened at $30.97 on Tuesday. 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 $7.51 billion, a price-to-earnings ratio of 15.72 and a beta of 1.80. The business's 50-day moving average price is $30.24 and its 200 day moving average price is $32.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.
Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $617.90 million. During the same period in the previous year, the firm earned $0.43 EPS. The business's quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Range Resources Co. will post 1.89 earnings per share for the current year.
Range Resources Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. 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 (DPR) is currently 16.24%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Mizuho decreased their price objective on Range Resources from $45.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their price target on Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Royal Bank of Canada restated a "sector perform" rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Piper Sandler cut shares of Range Resources from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $43.00 to $31.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research note on Thursday, September 12th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $35.00.
Read Our Latest Research Report on Range Resources
Institutional Investors Weigh In On Range Resources
A number of institutional investors have recently modified their holdings of the business. Norden Group LLC raised its holdings in Range Resources by 1,599.9% in the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company's stock worth $5,154,000 after purchasing an additional 140,891 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Range Resources by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company's stock valued at $5,499,000 after buying an additional 16,619 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $985,855,000 after acquiring an additional 5,759,883 shares during the period. TCW Group Inc. increased its holdings in Range Resources by 186.5% in the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company's stock worth $1,671,000 after acquiring an additional 32,433 shares in the last quarter. Finally, Boston Partners raised its position in Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company's stock worth $224,912,000 after acquiring an additional 133,565 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.
About Range Resources
(
Get Free Report)
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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