Ray N. Walker, Jr. Sells 13,350 Shares of Range Resources Corp. (RRC) Stock
Range Resources Corp. (NYSE:RRC) COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.53, for a total value of $501,025.50. Following the sale, the chief operating officer now directly owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Range Resources Corp. (NYSE:RRC) opened at 38.26 on Thursday. The stock’s 50 day moving average price is $39.82 and its 200 day moving average price is $39.69. Range Resources Corp. has a 12-month low of $19.21 and a 12-month high of $46.96. The company’s market capitalization is $6.38 billion.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The firm had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Range Resources Corp. will post ($0.26) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. Range Resources Corp.’s dividend payout ratio is presently -1.42%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Range Resources Corp. by 49.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the oil and gas exploration company’s stock worth $100,000 after buying an additional 769 shares in the last quarter. AXA boosted its position in shares of Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 653 shares in the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Range Resources Corp. during the second quarter worth approximately $115,000. Euclid Advisors LLC purchased a new position in shares of Range Resources Corp. during the second quarter worth approximately $170,000. Finally, Stephens Inc. AR boosted its position in shares of Range Resources Corp. by 24.9% in the second quarter. Stephens Inc. AR now owns 4,049 shares of the oil and gas exploration company’s stock worth $175,000 after buying an additional 808 shares in the last quarter.
A number of equities research analysts have recently weighed in on the company. KLR Group raised Range Resources Corp. from an “accumulate” rating to a “buy” rating and set a $53.00 target price for the company in a report on Thursday, July 28th. Zacks Investment Research raised Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 12th. Vetr downgraded Range Resources Corp. from a “hold” rating to a “sell” rating and set a $44.39 target price for the company. in a report on Tuesday, June 21st. Imperial Capital raised Range Resources Corp. from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $45.00 to $55.00 in a report on Thursday, July 14th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $52.00 target price on shares of Range Resources Corp. in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.28.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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