Range Resources Co. (NYSE:RRC) Director Charles G. Griffie Acquires 1,275 Shares

Range Resources Co. (NYSE:RRC) Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The stock was purchased at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Range Resources Stock Down 1.1 %

Shares of RRC traded down $0.35 during mid-day trading on Monday, hitting $30.98. The company’s stock had a trading volume of 2,095,173 shares, compared to its average volume of 2,370,856. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average is $30.25 and its 200-day moving average is $32.99. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $39.33. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 15.68 and a beta of 1.80.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.73% and a net margin of 17.63%. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Range Resources’s revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that Range Resources Co. will post 1.89 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is currently 16.24%.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of Range Resources during the 3rd quarter worth approximately $49,000. Fifth Third Bancorp lifted its position 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 valued at $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 acquired a new stake in Range Resources in the second quarter valued at approximately $67,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Wall Street Analysts Forecast Growth

RRC has been the topic of a number of recent analyst reports. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company decreased their price target on Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Wolfe Research started coverage on Range Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Susquehanna lowered their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.00.

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.