Dori Ginn Sells 10,000 Shares of Range Resources Co. (NYSE:RRC) Stock
Range Resources Co. (NYSE:RRC – Get Rating) SVP Dori Ginn sold 10,000 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $36.17, for a total transaction of $361,700.00. Following the transaction, the senior vice president now directly owns 332,033 shares of the company’s stock, valued at approximately $12,009,633.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Dori Ginn also recently made the following trade(s):
- On Friday, April 8th, Dori Ginn sold 10,000 shares of Range Resources stock. The stock was sold at an average price of $32.60, for a total transaction of $326,000.00.
NYSE:RRC traded up $1.46 during midday trading on Friday, hitting $36.17. 4,594,923 shares of the company were exchanged, compared to its average volume of 5,941,153. The company has a fifty day simple moving average of $30.23 and a 200 day simple moving average of $24.16. Range Resources Co. has a fifty-two week low of $12.37 and a fifty-two week high of $36.63. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $9.76 billion, a PE ratio of -71.77, a price-to-earnings-growth ratio of 0.22 and a beta of 1.99.
Range Resources (NYSE:RRC – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The oil and gas exploration company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. The firm had revenue of $986.66 million for the quarter, compared to analyst estimates of $955.47 million. During the same period last year, the business earned $0.30 EPS. As a group, equities research analysts expect that Range Resources Co. will post 4.54 EPS for the current year.
Range Resources announced that its Board of Directors has approved a stock buyback program on Tuesday, February 22nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas exploration company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
RRC has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Range Resources from $25.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, April 22nd. Benchmark raised their price target on shares of Range Resources from $33.00 to $43.00 in a research report on Monday, April 11th. Susquehanna Bancshares raised their price target on shares of Range Resources from $24.00 to $34.00 in a research report on Monday, April 25th. TheStreet cut shares of Range Resources from a “b-” rating to a “c” rating in a research report on Friday, May 6th. Finally, Wells Fargo & Company raised their price target on shares of Range Resources from $34.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.00.
A number of large investors have recently made changes to their positions in RRC. Voya Investment Management LLC increased its stake in Range Resources by 0.3% in the third quarter. Voya Investment Management LLC now owns 143,642 shares of the oil and gas exploration company’s stock valued at $3,251,000 after purchasing an additional 433 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Range Resources by 10.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,596 shares of the oil and gas exploration company’s stock valued at $149,000 after purchasing an additional 634 shares during the period. Crossmark Global Holdings Inc. increased its stake in Range Resources by 3.3% in the first quarter. Crossmark Global Holdings Inc. now owns 21,580 shares of the oil and gas exploration company’s stock valued at $656,000 after purchasing an additional 680 shares during the period. Natixis Advisors L.P. increased its stake in Range Resources by 1.5% in the fourth quarter. Natixis Advisors L.P. now owns 48,203 shares of the oil and gas exploration company’s stock valued at $859,000 after purchasing an additional 732 shares during the period. Finally, Cetera Advisor Networks LLC increased its stake in Range Resources by 1.6% in the first quarter. Cetera Advisor Networks LLC now owns 55,313 shares of the oil and gas exploration company’s stock valued at $1,680,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.
About Range Resources (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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