Range Resources Corporation (RRC) CFO Sells $176,629.94 in Stock
Range Resources Corporation (NYSE:RRC) CFO Roger S. Manny sold 10,757 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total value of $176,629.94. Following the completion of the sale, the chief financial officer now directly owns 143,703 shares of the company’s stock, valued at approximately $2,359,603.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Range Resources Corporation (NYSE:RRC) traded down $0.11 during trading on Thursday, reaching $16.24. The company’s stock had a trading volume of 6,709,400 shares, compared to its average volume of 5,917,615. The company has a market capitalization of $4,030.00, a PE ratio of 45.40 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. Range Resources Corporation has a 52-week low of $15.91 and a 52-week high of $36.66.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. analysts expect that Range Resources Corporation will post 0.44 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Range Resources by 15.0% during the second quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after buying an additional 1,805,404 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Range Resources during the third quarter worth approximately $34,462,000. UBS Oconnor LLC lifted its holdings in shares of Range Resources by 246.9% during the second quarter. UBS Oconnor LLC now owns 2,273,650 shares of the oil and gas exploration company’s stock worth $52,680,000 after buying an additional 1,618,250 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.4% during the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after buying an additional 976,293 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Range Resources by 72.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock worth $53,825,000 after buying an additional 973,814 shares during the last quarter. 95.72% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on RRC. Stifel Nicolaus set a $21.00 price target on Range Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research cut Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Jefferies Group reissued a “buy” rating and issued a $25.00 price target on shares of Range Resources in a research note on Tuesday, October 10th. Scotiabank reissued a “buy” rating and issued a $30.00 price target on shares of Range Resources in a research note on Monday, October 9th. Finally, BMO Capital Markets set a $30.00 price target on Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources has a consensus rating of “Buy” and a consensus target price of $30.98.
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About Range Resources
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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