Range Resources Co. (NYSE:RRC) CEO Dennis Degner Sells 35,850 Shares of Stock

Range Resources Co. (NYSE:RRC) CEO Dennis Degner sold 35,850 shares of Range Resources stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer now owns 58,431 shares of the company’s stock, valued at $2,361,781.02. This trade represents a 38.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Range Resources Trading Down 0.4%

Shares of RRC stock opened at $40.25 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.62 billion, a P/E ratio of 20.33, a PEG ratio of 5.11 and a beta of 0.60. The company has a 50 day moving average of $36.51 and a 200-day moving average of $36.31. Range Resources Co. has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the business posted $0.63 earnings per share. Sell-side analysts anticipate that Range Resources Co. will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.89%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.14%.

Analysts Set New Price Targets

Several analysts have recently commented on RRC shares. Barclays lowered their price objective on Range Resources from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Truist Financial increased their price target on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Monday, March 17th. Stephens reaffirmed an “overweight” rating and set a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Susquehanna reduced their target price on shares of Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.85.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. LPL Financial LLC boosted its position in Range Resources by 23.2% during the fourth quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company’s stock worth $4,095,000 after purchasing an additional 21,440 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Range Resources in the 4th quarter worth approximately $380,000. Calamos Advisors LLC bought a new position in Range Resources in the 4th quarter worth approximately $567,000. Radnor Capital Management LLC grew its stake in Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after buying an additional 26,213 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Range Resources by 169.1% during the 4th quarter. Sanctuary Advisors LLC now owns 17,944 shares of the oil and gas exploration company’s stock valued at $674,000 after acquiring an additional 11,276 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.