Gregory Gene Maxwell Acquires 1,000 Shares of Range Resources Corp. (RRC) Stock
Range Resources Corp. (NYSE:RRC) Director Gregory Gene Maxwell acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was purchased at an average price of $37.00 per share, with a total value of $37,000.00. Following the transaction, the director now owns 12,211 shares of the company’s stock, valued at approximately $451,807. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Range Resources Corp. (NYSE:RRC) opened at 36.97 on Wednesday. The stock’s market cap is $6.16 billion. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96. The firm has a 50-day moving average of $39.55 and a 200 day moving average of $39.96.
Range Resources Corp. (NYSE:RRC) last announced its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. The company earned $362.67 million during the quarter, compared to analysts’ expectations of $327.40 million. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. Analysts anticipate that Range Resources Corp. will post ($0.20) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Wednesday, September 14th. Range Resources Corp.’s payout ratio is currently -1.42%.
RRC has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, July 12th. Jefferies Group reiterated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Range Resources Corp. in a research report on Sunday, July 10th. Stifel Nicolaus upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Friday, July 8th. Vetr upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $45.28 price objective for the company in a research report on Monday, July 4th. Finally, KLR Group upgraded shares of Range Resources Corp. from an “accumulate” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $44.28.
A number of institutional investors have recently made changes to their positions in RRC. British Airways Pensions Investment Management Ltd acquired a new position in shares of Range Resources Corp. during the second quarter worth about $23,916,000. Zurich Insurance Group Ltd FI purchased a new position in Range Resources Corp. during the first quarter worth $583,000. Legal & General Group Plc raised its position in Range Resources Corp. by 3.6% in the first quarter. Legal & General Group Plc now owns 691,388 shares of the oil and gas exploration company’s stock worth $22,388,000 after buying an additional 24,206 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Range Resources Corp. by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 43,939 shares of the oil and gas exploration company’s stock worth $1,896,000 after buying an additional 2,649 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Range Resources Corp. by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,381,218 shares of the oil and gas exploration company’s stock worth $44,632,000 after buying an additional 34,077 shares in the last quarter.
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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