Insider Selling: Range Resources Co. (NYSE:RRC) VP Sells 15,978 Shares of Stock

Range Resources Co. (NYSE:RRC) VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Range Resources Stock Down 0.2 %

Shares of Range Resources stock traded down $0.08 during trading on Thursday, hitting $37.69. 4,254,440 shares of the stock traded hands, compared to its average volume of 2,592,524. The firm has a market cap of $9.13 billion, a P/E ratio of 19.13 and a beta of 1.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources Co. has a 52-week low of $23.92 and a 52-week high of $38.25. The stock’s fifty day simple moving average is $33.67 and its 200 day simple moving average is $32.40.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts predict that Range Resources Co. will post 1.99 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC purchased a new position in Range Resources during the third quarter valued at approximately $27,000. Schroder Investment Management Group increased its position in shares of Range Resources by 23.7% in the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after buying an additional 87,624 shares in the last quarter. Kennedy Capital Management LLC increased its position in shares of Range Resources by 17.7% during the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Range Resources during the third quarter worth approximately $19,704,000. Finally, Cambria Investment Management L.P. increased its position in shares of Range Resources by 8.5% during the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after purchasing an additional 20,685 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RRC shares. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday. Susquehanna increased their target price on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Raymond James lowered their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Mizuho reiterated a “buy” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, April 11th. Finally, Morgan Stanley increased their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.40.

Range Resources Company Profile

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.