Equities research analysts at Credit Suisse Group initiated coverage on shares of Range Resources (NYSE:RRC) in a research report issued on Monday, December 11th, MarketBeat reports. The brokerage set an “outperform” rating and a $24.00 price target on the oil and gas exploration company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 45.81% from the stock’s previous close.
A number of other research analysts have also weighed in on RRC. Citigroup cut their price target on shares of Range Resources from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 15th. SunTrust Banks reaffirmed a “hold” rating and issued a $20.00 price target on shares of Range Resources in a research note on Friday, December 8th. Cowen reaffirmed a “buy” rating and issued a $35.00 price target on shares of Range Resources in a research note on Tuesday, August 22nd. Scotiabank reiterated a “buy” rating and issued a $30.00 price objective on shares of Range Resources in a report on Monday, October 9th. Finally, Piper Jaffray Companies lowered their price objective on shares of Range Resources from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources presently has a consensus rating of “Buy” and an average target price of $30.02.
Range Resources (NYSE RRC) traded down $0.04 during trading on Monday, reaching $16.46. 4,434,090 shares of the company traded hands, compared to its average volume of 6,740,000. Range Resources has a twelve month low of $15.33 and a twelve month high of $36.40. The company has a market cap of $4,070.00, a price-to-earnings ratio of -78.38 and a beta of 0.91. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.
In related news, VP David P. Poole sold 30,920 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total transaction of $505,851.20. Following the transaction, the vice president now directly owns 17,647 shares in the company, valued at $288,704.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Anthony V. Dub sold 2,897 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $16.06, for a total transaction of $46,525.82. Following the transaction, the director now owns 96,000 shares in the company, valued at $1,541,760. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,574 shares of company stock worth $729,007. 2.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RRC. Vanguard Group Inc. increased its holdings in shares of Range Resources by 4.4% in the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after purchasing an additional 976,293 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Range Resources by 4.5% in the third quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock valued at $332,679,000 after purchasing an additional 673,214 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Range Resources by 6.8% in the second quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after purchasing an additional 890,348 shares during the last quarter. State Street Corp increased its holdings in shares of Range Resources by 15.0% in the second quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after purchasing an additional 1,805,404 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Range Resources by 14.1% in the third quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock valued at $96,898,000 after purchasing an additional 612,032 shares during the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.
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Range Resources 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.
