Range Resources Target of Unusually Large Options Trading (NYSE:RRC)

Range Resources Corporation (NYSE:RRC) saw some unusual options trading activity on Thursday. Investors acquired 10,901 call options on the company. This represents an increase of approximately 1,062% compared to the average volume of 938 call options.

Range Resources Stock Performance

Shares of RRC stock opened at $41.92 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The company’s fifty day moving average price is $39.49 and its two-hundred day moving average price is $40.57. The firm has a market capitalization of $9.80 billion, a P/E ratio of 11.58 and a beta of 0.43. Range Resources has a 12 month low of $32.68 and a 12 month high of $48.31.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that Range Resources will post 3.62 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Insider Activity

In other news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the sale, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Range Resources in the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Range Resources during the second quarter worth about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources in the 4th quarter worth about $34,000. Root Financial Partners LLC lifted its position in Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 276 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Range Resources in the 2nd quarter valued at about $44,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group set a $42.00 target price on Range Resources in a report on Tuesday. Stifel Nicolaus began coverage on Range Resources in a report on Thursday. They set a “hold” rating and a $46.00 target price for the company. Citigroup reissued a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Susquehanna cut their price target on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, Truist Financial reduced their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.88.

Range Resources Company Profile

Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company’s production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.