Greg G. Maxwell Sells 24,675 Shares of Range Resources Co. (NYSE:RRC) Stock

Posted by Defense World Staff on May 19th, 2023

Range Resources Co. (NYSE:RRC – Get Rating) Director Greg G. Maxwell sold 24,675 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $27.39, for a total transaction of $675,848.25. Following the completion of the sale, the director now owns 57,192 shares in the company, valued at $1,566,488.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Range Resources Trading Up 7.2 %

Shares of NYSE RRC opened at $29.49 on Friday. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 3.46, a PEG ratio of 0.42 and a beta of 2.13. The business has a 50 day simple moving average of $25.74 and a 200 day simple moving average of $26.09. Range Resources Co. has a 52 week low of $22.61 and a 52 week high of $37.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.92 and a current ratio of 0.92.

Range Resources (NYSE:RRC – Get Rating) last announced its quarterly earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.71 by $0.28. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $772.38 million. Range Resources had a return on equity of 45.55% and a net margin of 41.18%. The firm’s quarterly revenue was up 556.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. On average, research analysts predict that Range Resources Co. will post 2.25 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. Range Resources’s payout ratio is 3.76%.

Analyst Ratings Changes

Several equities research analysts have commented on RRC shares. Stifel Nicolaus dropped their price target on shares of Range Resources from $30.00 to $29.00 in a research report on Thursday, April 27th. Stephens started coverage on shares of Range Resources in a research report on Monday, April 24th. They issued an “overweight” rating and a $34.00 price target on the stock. Susquehanna dropped their price target on shares of Range Resources from $34.00 to $33.00 and set a “positive” rating on the stock in a research report on Friday, April 21st. Benchmark upgraded Range Resources from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, April 25th. Finally, Roth Capital restated a “neutral” rating on shares of Range Resources in a report on Wednesday, February 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.29.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently added to or reduced their stakes in RRC. Ronald Blue Trust Inc. boosted its position in Range Resources by 75.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,187 shares of the oil and gas exploration company’s stock worth $30,000 after purchasing an additional 511 shares during the period. Belpointe Asset Management LLC bought a new stake in Range Resources during the fourth quarter worth approximately $40,000. Ameritas Advisory Services LLC bought a new stake in Range Resources during the first quarter worth approximately $42,000. Tobam bought a new stake in Range Resources during the third quarter worth approximately $53,000. Finally, International Assets Investment Management LLC bought a new stake in Range Resources during the first quarter worth approximately $53,000. Institutional investors own 87.32% of the company’s stock.

Range Resources Company Profile

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Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.