Range Resources (NYSE:RRC) Stock Price Down 3.1%

Range Resources Co. (NYSE:RRC – Get Rating) fell 3.1% on Friday . The stock traded as low as $28.43 and last traded at $28.47. 581,473 shares changed hands during trading, a decline of 88% from the average session volume of 4,750,157 shares. The stock had previously closed at $29.39.

Analyst Ratings Changes

Several brokerages recently weighed in on RRC. Mizuho raised Range Resources from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $35.00 in a report on Friday, May 19th. The Goldman Sachs Group upgraded Range Resources from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $31.00 in a research report on Wednesday. StockNews.com started coverage on Range Resources in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Stifel Nicolaus increased their price objective on Range Resources from $29.00 to $33.00 in a research report on Monday. Finally, Susquehanna cut their price objective on Range Resources from $34.00 to $33.00 and set a “positive” rating for the company in a research report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $32.52.

Range Resources Stock Down 1.4 %

The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 3.39, a price-to-earnings-growth ratio of 0.47 and a beta of 2.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $26.17 and a two-hundred day moving average price of $26.14.

Range Resources (NYSE:RRC – Get Rating) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.71 by $0.28. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $772.38 million. Range Resources had a return on equity of 45.55% and a net margin of 41.18%. The company’s revenue was up 556.4% on a year-over-year basis. During the same period last year, the business posted $1.18 EPS. On average, equities analysts expect that Range Resources Co. will post 2.24 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.10%. Range Resources’s payout ratio is currently 3.76%.

Insider Activity at Range Resources

In other Range Resources news, Director Greg G. Maxwell sold 24,675 shares of Range Resources stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $27.39, for a total transaction of $675,848.25. Following the sale, the director now directly owns 57,192 shares in the company, valued at approximately $1,566,488.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Erin W. Mcdowell sold 36,419 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $27.39, for a total transaction of $997,516.41. Following the completion of the transaction, the senior vice president now directly owns 98,899 shares in the company, valued at approximately $2,708,843.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Greg G. Maxwell sold 24,675 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $27.39, for a total value of $675,848.25. Following the transaction, the director now owns 57,192 shares of the company’s stock, valued at $1,566,488.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 353,094 shares of company stock worth $9,755,245. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Third Point LLC bought a new position in Range Resources during the third quarter valued at about $98,514,000. FMR LLC lifted its holdings in shares of Range Resources by 8.8% during the first quarter. FMR LLC now owns 28,963,656 shares of the oil and gas exploration company’s stock valued at $766,668,000 after purchasing an additional 2,334,862 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Range Resources by 143.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock valued at $103,169,000 after purchasing an additional 2,296,114 shares during the last quarter. Aventail Capital Group LP lifted its holdings in shares of Range Resources by 1,498.1% during the first quarter. Aventail Capital Group LP now owns 1,694,698 shares of the oil and gas exploration company’s stock valued at $44,859,000 after purchasing an additional 1,588,655 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Range Resources by 55.5% during the first quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock valued at $106,067,000 after purchasing an additional 1,429,500 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

Range Resources Company Profile

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Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.