Charles Griffie, a director at Range Resources Corporation (RRC), recently bought 1,275 shares. The buy increased his stake by 13%, and came to a total cost of $40,112. Griffie was the last insider to buy, with a 1,500 share pickup back in May at a cost of just under $52,000.
In the intervening months, several company insiders have been sellers, including the company CEO and CFO, who reduced their holdings by 11% and 5% respectively.
Overall, Range Resources insiders own 2.6% of shares.
The oil and gas exploration company is down 15% over the past year, amid a decline in energy prices. Range has held up relatively well for the sector, seeing less than a 1% drop in revenues. Plus, they managed to grow earnings by 3%.
Meanwhile, Range trades at about 10 times forward earnings, and has a relatively small level of debt on its balance sheet for an oil and gas play.
Action to take: Shares have started to trend higher since September, and that trend may continue to play out in the months ahead. Investors can likely see low-double-digit returns in the months ahead.
At current prices, Range also pays a 1% dividend.
For traders, the January 2025 $35 calls, last trading for about $0.85, could see mid-to-high double-digit returns over the coming months if the current uptrend continues.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.