Range Resources Corporation (NYSE:RRC – Get Free Report)’s stock price traded up 4.2% during trading on Friday. The company traded as high as $43.11 and last traded at $43.15. 1,111,188 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 3,108,389 shares. The stock had previously closed at $41.42.
Analyst Ratings Changes
A number of research firms have issued reports on RRC. Truist Financial reduced their target price on shares of Range Resources from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Morgan Stanley increased their price target on shares of Range Resources from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday. Scotiabank started coverage on shares of Range Resources in a report on Wednesday. They set a “sector perform” rating and a $42.00 price target on the stock. The Goldman Sachs Group reduced their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, Susquehanna cut their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus target price of $44.00.
View Our Latest Stock Report on Range Resources
Range Resources Trading Up 4.3%
The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.93 and a beta of 0.71. The business has a 50-day moving average of $40.30 and a two-hundred day moving average of $40.01. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.
Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts predict that Range Resources Corporation will post 3.74 EPS for the current fiscal year.
Range Resources Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.10 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources’s dividend payout ratio (DPR) is 11.05%.
Insiders Place Their Bets
In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the transaction, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in shares of Range Resources during the second quarter worth $2,220,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Range Resources by 23.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,315 shares of the oil and gas exploration company’s stock valued at $20,429,000 after purchasing an additional 104,096 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Range Resources by 321.3% during the first quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company’s stock worth $2,355,000 after purchasing an additional 39,745 shares during the period. MAC Alpha Capital Management LP boosted its position in shares of Range Resources by 41.6% in the second quarter. MAC Alpha Capital Management LP now owns 250,456 shares of the oil and gas exploration company’s stock valued at $9,315,000 after acquiring an additional 73,600 shares during the period. Finally, Delta Global Management LP bought a new position in Range Resources during the 1st quarter worth $2,459,000. Institutional investors and hedge funds own 98.93% of the company’s stock.
About Range Resources
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil producer headquartered in Fort Worth, Texas. The company explores for, develops and produces hydrocarbons, with a primary focus on unconventional shale resources in the Appalachian Basin.
Range’s principal operating area is the Marcellus Shale in southwestern Pennsylvania, where it produces natural gas, NGLs and condensate. Its products are sold to customers through regional and interstate pipeline systems and other market channels serving utilities, industrial users, power generators and other energy markets.
Founded in 1976, Range Resources has historically operated in several U.S.
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