Range Resources (NYSE:RRC) Trading Down 5.2% – Should You Sell?

Range Resources Corporation (NYSE:RRC)’s stock price fell 5.2% during trading on Wednesday . The stock traded as low as $39.80 and last traded at $39.74. 570,544 shares traded hands during trading, a decline of 82% from the average daily volume of 3,135,338 shares. The stock had previously closed at $41.90.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Raymond James Financial set a $45.00 price objective on shares of Range Resources in a research note on Monday, July 27th. The Goldman Sachs Group cut their target price on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Stifel Nicolaus began coverage on Range Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $46.00 price target on the stock. Susquehanna decreased their price target on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.29.

Range Resources Stock Down 5.3%

The business’s fifty day moving average is $39.71 and its two-hundred day moving average is $40.62. The company has a market cap of $9.27 billion, a P/E ratio of 10.94 and a beta of 0.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The business had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Equities analysts predict that Range Resources Corporation will post 3.65 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is presently 11.05%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’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 directly owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Range Resources by 89.0% in the second quarter. Sequoia Financial Advisors LLC now owns 10,811 shares of the oil and gas exploration company’s stock worth $402,000 after buying an additional 5,092 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Range Resources by 62.8% during the second quarter. Tidal Investments LLC now owns 73,725 shares of the oil and gas exploration company’s stock valued at $2,742,000 after buying an additional 28,438 shares during the last quarter. SailingStone Capital Partners LLC increased its position in shares of Range Resources by 53.2% in the 2nd quarter. SailingStone Capital Partners LLC now owns 1,504,350 shares of the oil and gas exploration company’s stock valued at $55,947,000 after acquiring an additional 522,319 shares during the period. Engineers Gate Manager LP increased its position in shares of Range Resources by 1,413.1% in the 2nd quarter. Engineers Gate Manager LP now owns 197,380 shares of the oil and gas exploration company’s stock valued at $7,341,000 after acquiring an additional 184,335 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at $57,000. Institutional investors own 98.93% of the company’s stock.

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.