RRC - Bullish Move: Brenda Cline Shows Confidence Acquires $200K In Range Resources Stock | Benzinga
Disclosed in the latest SEC filing, a significant insider purchase on May 9, involves Brenda Cline, Board Member at Range Resources (NYSE:RRC).
What Happened: Cline's recent move, as outlined in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday, involves purchasing 5,410 shares of Range Resources. The total transaction value is $200,007.
Range Resources shares are trading down 2.6% at $35.95 at the time of this writing on Friday morning.
Unveiling the Story Behind Range Resources
Fort Worth-based Range Resources is an independent exploration and production company with that focuses entirely on its operations in the Marcellus Shale in Pennsylvania. At year-end 2023, Range Resources' proven reserves totaled 18.1 trillion cubic feet equivalent, with net production of 2.14 billion cubic feet equivalent per day. Natural gas accounted for 69% of production.
Range Resources: Financial Performance Dissected
Decline in Revenue: Over the 3 months period, Range Resources faced challenges, resulting in a decline of approximately -26.84% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the ...