Range Resources Corp. (NYSE:RRC) CFO Mark Scucchi Acquires 12,955 Shares

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Range Resources Corp. (NYSE:RRC) CFO Mark Scucchi bought 12,955 shares of Range Resources stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $4.36 per share, for a total transaction of $56,483.80. Following the completion of the transaction, the chief financial officer now directly owns 14,149 shares in the company, valued at $61,689.64. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mark Scucchi also recently made the following trade(s):

  • On Thursday, August 1st, Mark Scucchi bought 9,483 shares of Range Resources stock. The shares were acquired at an average cost of $5.27 per share, for a total transaction of $49,975.41.

Shares of RRC traded down $0.11 during mid-day trading on Tuesday, reaching $4.33. The company had a trading volume of 532,119 shares, compared to its average volume of 14,705,192. Range Resources Corp. has a 52-week low of $4.09 and a 52-week high of $18.59. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1.09 billion, a PE ratio of 3.83, a P/E/G ratio of 2.92 and a beta of 0.94. The company has a 50 day moving average price of $5.65.

Range Resources (NYSE:RRC) last issued its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $851.43 million for the quarter, compared to the consensus estimate of $672.93 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. Analysts anticipate that Range Resources Corp. will post 0.44 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 5.0% in the fourth 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 buying an additional 461,780 shares during the last quarter. FMR LLC boosted its stake in shares of Range Resources by 9,258.5% in the fourth quarter. FMR LLC now owns 7,341,074 shares of the oil and gas exploration company’s stock worth $70,254,000 after buying an additional 7,262,631 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Range Resources by 21.5% in the second quarter. Russell Investments Group Ltd. now owns 5,922,151 shares of the oil and gas exploration company’s stock worth $41,317,000 after buying an additional 1,047,461 shares during the last quarter. Caymus Capital Partners L.P. boosted its stake in shares of Range Resources by 240.5% in the second quarter. Caymus Capital Partners L.P. now owns 4,631,218 shares of the oil and gas exploration company’s stock worth $32,326,000 after buying an additional 3,271,218 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Range Resources in the second quarter worth about $23,468,000.

Several research firms have weighed in on RRC. Citigroup dropped their price target on Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Zacks Investment Research downgraded Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Guggenheim downgraded Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. Jefferies Financial Group downgraded Range Resources from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $7.00 in a research note on Monday, July 15th. Finally, TD Securities dropped their price target on Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.53.

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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