Range Resources Corp. (RRC) Receives Average Rating of “Buy” from Analysts
Shares of Range Resources Corp. (NYSE:RRC) have been given an average rating of “Buy” by the twenty-seven ratings firms that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $45.89.
Several brokerages have weighed in on RRC. Stifel Nicolaus lowered their target price on shares of Range Resources Corp. from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, March 23rd. Zacks Investment Research upgraded shares of Range Resources Corp. from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Saturday, March 25th. Scotiabank reiterated a “buy” rating and set a $44.00 price objective on shares of Range Resources Corp. in a research note on Friday, April 21st. Jefferies Group LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Range Resources Corp. in a research note on Wednesday, May 17th. Finally, Barclays PLC reiterated a “sell” rating and set a $28.00 price objective on shares of Range Resources Corp. in a research note on Thursday, April 27th.
Shares of Range Resources Corp. (NYSE:RRC) traded up 1.72% during trading on Friday, reaching $24.20. 5,477,452 shares of the company were exchanged. The firm’s market capitalization is $5.89 billion. The company’s 50-day moving average is $26.61 and its 200 day moving average is $30.94. Range Resources Corp. has a 1-year low of $23.53 and a 1-year high of $46.96. Range Resources Corp. also saw some unusual options trading activity on Thursday. Investors acquired 1,305 call options on the stock. This represents an increase of 179% compared to the typical volume of 467 call options.
Range Resources Corp. (NYSE:RRC) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The company had revenue of $607 million during the quarter, compared to the consensus estimate of $585.45 million. Range Resources Corp. had a negative net margin of 54.13% and a negative return on equity of 13.00%. Range Resources Corp.’s revenue was up 83.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. Equities research analysts expect that Range Resources Corp. will post $0.76 EPS for the current fiscal year.
In related news, Director Christopher A. Helms bought 4,000 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were acquired at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the completion of the transaction, the director now directly owns 15,931 shares in the company, valued at $437,465.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in RRC. Weiss Asset Management LP bought a new stake in shares of Range Resources Corp. during the third quarter valued at about $488,000. Scoria Capital Partners LP bought a new stake in shares of Range Resources Corp. during the third quarter valued at about $5,542,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Range Resources Corp. by 15.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,967 shares of the oil and gas exploration company’s stock valued at $1,587,000 after buying an additional 5,530 shares during the period. Compagnie Lombard Odier SCmA raised its stake in shares of Range Resources Corp. by 19.4% in the third quarter. Compagnie Lombard Odier SCmA now owns 271,233 shares of the oil and gas exploration company’s stock valued at $10,512,000 after buying an additional 44,100 shares during the period. Finally, AMP Capital Investors Ltd raised its stake in shares of Range Resources Corp. by 3.8% in the third quarter. AMP Capital Investors Ltd now owns 41,377 shares of the oil and gas exploration company’s stock valued at $1,555,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 87.70% of the company’s stock.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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