Range Resources Corp. (NYSE:RRC) Given Average Recommendation of “Buy” by Brokerages
Shares of Range Resources Corp. (NYSE:RRC) have earned an average recommendation of “Buy” from the thirty-four analysts that are presently covering the company. One research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, fifteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $45.88.
Several brokerages have recently weighed in on RRC. Credit Suisse Group AG restated an “outperform” rating and set a $49.00 price objective on shares of Range Resources Corp. in a research report on Wednesday. Deutsche Bank AG reduced their price target on shares of Range Resources Corp. from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Tuesday, June 14th. Vetr downgraded shares of Range Resources Corp. from a “hold” rating to a “sell” rating and set a $40.37 price target for the company. in a research report on Wednesday, June 1st. BMO Capital Markets downgraded shares of Range Resources Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Finally, Simmons started coverage on shares of Range Resources Corp. in a research report on Wednesday, July 13th. They issued an “overweight” rating and a $52.00 price target for the company.
In other news, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $37.53, for a total transaction of $501,025.50. Following the completion of the sale, the chief operating officer now owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.
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Several hedge funds have recently added to or reduced their stakes in the company. Pioneer Investment Management Inc. increased its stake in Range Resources Corp. by 30.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 121,378 shares of the oil and gas exploration company’s stock worth $2,987,000 after buying an additional 28,473 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Range Resources Corp. by 23.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,545 shares of the oil and gas exploration company’s stock worth $1,086,000 after buying an additional 6,314 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Range Resources Corp. by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 41,290 shares of the oil and gas exploration company’s stock worth $1,337,000 after buying an additional 3,327 shares during the last quarter. Aperio Group LLC increased its stake in Range Resources Corp. by 39.0% in the first quarter. Aperio Group LLC now owns 160,051 shares of the oil and gas exploration company’s stock worth $5,182,000 after buying an additional 44,867 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. bought a new stake in Range Resources Corp. during the first quarter worth $1,229,000.
Range Resources Corp. (NYSE:RRC) traded up 3.55% during trading on Wednesday, reaching $37.88. 4,196,606 shares of the company’s stock traded hands. The stock’s market cap is $6.31 billion. The firm’s 50 day moving average price is $39.84 and its 200-day moving average price is $39.70. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. The business earned $362.67 million during the quarter, compared to the consensus estimate of $327.40 million. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities analysts anticipate that Range Resources Corp. will post ($0.26) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Wednesday, September 14th. Range Resources Corp.’s payout ratio is currently -1.42%.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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