Range Resources Corp.’s (RRC) Outperform Rating Reaffirmed at Credit Suisse Group AG
Range Resources Corp. (NYSE:RRC)‘s stock had its “outperform” rating reissued by stock analysts at Credit Suisse Group AG in a research note issued on Wednesday. They presently have a $49.00 price target on the oil and gas exploration company’s stock. Credit Suisse Group AG’s price target points to a potential upside of 33.95% from the company’s current price.
Several other research analysts have also recently commented on RRC. Deutsche Bank AG reduced their target price on 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 cut Range Resources Corp. from a “hold” rating to a “sell” rating and set a $40.37 target price for the company. in a research report on Wednesday, June 1st. BMO Capital Markets cut Range Resources Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, July 29th. Simmons initiated coverage on Range Resources Corp. in a research report on Wednesday, July 13th. They issued an “overweight” rating and a $52.00 target price for the company. Finally, Nomura cut Range Resources Corp. from a “buy” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Range Resources Corp. has a consensus rating of “Buy” and a consensus target price of $44.28.
Shares of Range Resources Corp. (NYSE:RRC) opened at 36.58 on Wednesday. The firm’s 50-day moving average is $39.84 and its 200 day moving average is $39.70. The company’s market cap is $6.10 billion. Range Resources Corp. has a 1-year low of $19.21 and a 1-year high of $46.96.
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Range Resources Corp. (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The company earned $362.67 million during the quarter, compared to analysts’ expectations of $327.40 million. During the same period in the prior year, the business earned $0.01 earnings per share. Range Resources Corp.’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts expect that Range Resources Corp. will post ($0.26) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio (DPR) is -1.42%.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $37.53, for a total transaction of $501,025.50. Following the transaction, the chief operating officer now owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pioneer Investment Management Inc. raised its position 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 raised its position 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 raised its position 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 raised its position 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. acquired a new position in Range Resources Corp. during the first quarter worth $1,229,000.
Range Resources Corp. Company Profile
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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