Range Resources Corp. (RRC) Director Acquires $98,000.00 in Stock

Range Resources Corp. (NYSE:RRC) Director James M. Funk purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 22,706 shares in the company, valued at $222,518.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NYSE RRC traded down $0.32 during trading on Friday, reaching $10.57. The company’s stock had a trading volume of 89,980 shares, compared to its average volume of 7,744,523. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.77 and a current ratio of 0.80. The firm has a market cap of $2.72 billion, a PE ratio of 9.34, a P/E/G ratio of 1.19 and a beta of 1.15. Range Resources Corp. has a twelve month low of $9.22 and a twelve month high of $18.59.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Monday, February 25th. The oil and gas exploration company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $736.35 million. Range Resources had a negative net margin of 53.20% and a positive return on equity of 5.20%. Range Resources’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Research analysts predict that Range Resources Corp. will post 0.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.76%. Range Resources’s dividend payout ratio is presently 7.08%.

RRC has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “buy” rating on shares of Range Resources in a research note on Monday, January 7th. TD Securities upgraded shares of Range Resources from a “hold” rating to a “buy” rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Monday, January 7th. B. Riley set a $21.00 price target on shares of Range Resources and gave the stock a “buy” rating in a research note on Sunday, December 30th. Jefferies Financial Group reiterated a “buy” rating and set a $19.00 price target on shares of Range Resources in a research note on Wednesday, January 30th. Finally, reiterated a “buy” rating and set a $13.00 price target on shares of Range Resources in a research note on Tuesday, February 12th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.37.

Institutional investors have recently modified their holdings of the company. Pearl River Capital LLC acquired a new position in shares of Range Resources during the fourth quarter worth about $25,000. Rational Advisors LLC boosted its holdings in Range Resources by 3,255.6% during the fourth quarter. Rational Advisors LLC now owns 3,020 shares of the oil and gas exploration company’s stock worth $29,000 after buying an additional 2,930 shares in the last quarter. Sit Investment Associates Inc. purchased a new stake in Range Resources during the fourth quarter worth about $45,000. DekaBank Deutsche Girozentrale boosted its holdings in Range Resources by 265.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 6,660 shares of the oil and gas exploration company’s stock worth $110,000 after buying an additional 4,840 shares in the last quarter. Finally, Ayalon Holdings Ltd. boosted its holdings in Range Resources by 87.1% during the fourth quarter. Ayalon Holdings Ltd. now owns 6,939 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 3,230 shares in the last quarter.

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Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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