Insider Buying: Range Resources Corp. (NYSE:RRC) CFO Buys 9,483 Shares of Stock

Range Resources Corp. (NYSE:RRC) CFO Mark Scucchi acquired 9,483 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $5.27 per share, with a total value of $49,975.41. Following the transaction, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at approximately $74,565.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of RRC traded down $0.15 during trading hours on Friday, hitting $5.00. The company had a trading volume of 8,432,691 shares, compared to its average volume of 8,549,224. Range Resources Corp. has a 52-week low of $4.57 and a 52-week high of $18.59. The company’s fifty day moving average is $6.15. The stock has a market capitalization of $1.31 billion, a PE ratio of 4.42, a price-to-earnings-growth ratio of 3.81 and a beta of 0.97. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 0.91.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The company had revenue of $851.43 million during the quarter, compared to the consensus estimate of $672.93 million. During the same period last year, the company earned $0.20 EPS. Range Resources’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts predict that Range Resources Corp. will post 0.44 EPS for the current year.

Several equities analysts have commented on RRC shares. Cowen started coverage on Range Resources in a research report on Tuesday, April 9th. They set an “outperform” rating and a $14.00 price objective for the company. Zacks Investment Research lowered Range Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Jefferies Financial Group lowered Range Resources from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $7.00 in a research report on Monday, July 15th. Morgan Stanley set a $4.00 price target on Range Resources and gave the stock a “sell” rating in a research report on Monday, June 24th. Finally, Susquehanna Bancshares lowered their price target on Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Range Resources presently has an average rating of “Hold” and a consensus price target of $14.53.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Range Resources by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,655,071 shares of the oil and gas exploration company’s stock worth $92,401,000 after purchasing an additional 461,780 shares during the period. Geode Capital Management LLC lifted its position in shares of Range Resources by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,001,135 shares of the oil and gas exploration company’s stock worth $19,150,000 after purchasing an additional 58,751 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Range Resources in the 4th quarter worth approximately $665,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Range Resources in the 4th quarter worth approximately $471,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Range Resources by 6.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 52,607 shares of the oil and gas exploration company’s stock worth $503,000 after purchasing an additional 3,101 shares during the period.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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