Range Resources Corporation (NYSE:RRC) was downgraded by Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.

Several other brokerages have also recently issued reports on RRC. BidaskClub upgraded shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 target price on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Saturday, June 3rd. Cowen and Company restated a “buy” rating and issued a $35.00 target price on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Barclays PLC dropped their target price on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, August 3rd. Finally, KeyCorp restated a “hold” rating on shares of Range Resources Corporation in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Range Resources Corporation currently has a consensus rating of “Buy” and an average target price of $39.69.

Range Resources Corporation (NYSE RRC) opened at 17.91 on Friday. The stock has a market cap of $4.37 billion, a P/E ratio of 121.01 and a beta of 0.94. Range Resources Corporation has a 52 week low of $16.50 and a 52 week high of $43.60. The stock has a 50 day moving average price of $18.59 and a 200-day moving average price of $23.87.

Range Resources Corporation (NYSE:RRC) last issued its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company had revenue of $565 million for the quarter, compared to analysts’ expectations of $544.08 million. During the same quarter last year, the company posted ($1.35) earnings per share. The firm’s quarterly revenue was up 55.8% on a year-over-year basis. On average, equities analysts anticipate that Range Resources Corporation will post $0.51 EPS for the current fiscal year.

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In other Range Resources Corporation news, Director Steffen E. Palko bought 15,000 shares of Range Resources Corporation stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Ralph Lowe bought 10,000 shares of Range Resources Corporation stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 30,000 shares of company stock worth $541,640. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Sentry Investment Management LLC increased its holdings in shares of Range Resources Corporation by 858.6% in the 2nd quarter. Sentry Investment Management LLC now owns 135,628 shares of the oil and gas exploration company’s stock worth $3,143,000 after buying an additional 121,479 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Range Resources Corporation by 27.1% in the 2nd quarter. Toronto Dominion Bank now owns 64,474 shares of the oil and gas exploration company’s stock worth $1,493,000 after buying an additional 13,740 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Range Resources Corporation by 57.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,545 shares of the oil and gas exploration company’s stock worth $615,000 after buying an additional 9,704 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Range Resources Corporation by 9.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 111,453 shares of the oil and gas exploration company’s stock worth $2,582,000 after buying an additional 10,043 shares during the last quarter. Finally, Kingfisher Capital LLC increased its holdings in shares of Range Resources Corporation by 8.3% in the 2nd quarter. Kingfisher Capital LLC now owns 42,769 shares of the oil and gas exploration company’s stock worth $991,000 after buying an additional 3,292 shares during the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.

About Range Resources Corporation

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.

The Fly

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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