Range Resources Corporation (RRC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Range Resources Corporation (NYSE:RRC) have been assigned a consensus recommendation of “Buy” from the thirty brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.02.
A number of research analysts have weighed in on RRC shares. Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, October 20th. Credit Suisse Group initiated coverage on shares of Range Resources in a research note on Monday, December 11th. They set an “outperform” rating and a $24.00 target price for the company. Morgan Stanley lowered their target price on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Barclays reissued a “buy” rating and set a $19.00 target price on shares of Range Resources in a research note on Sunday, December 24th. Finally, Scotiabank set a $27.00 target price on shares of Range Resources and gave the company a “buy” rating in a research note on Saturday, November 25th.
In other news, Director Anthony V. Dub sold 2,897 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the sale, the director now owns 96,000 shares of the company’s stock, valued at approximately $1,541,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Roger S. Manny sold 10,757 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total transaction of $176,629.94. Following the sale, the chief financial officer now directly owns 143,703 shares in the company, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,574 shares of company stock worth $729,007. 0.42% of the stock is owned by corporate insiders.
Shares of Range Resources (NYSE:RRC) traded up $0.12 on Monday, reaching $16.88. 6,336,836 shares of the company traded hands, compared to its average volume of 9,447,250. Range Resources has a 12 month low of $15.33 and a 12 month high of $36.40. The company has a market capitalization of $4,150.00, a PE ratio of -80.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47.
Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The company had revenue of $482.20 million for the quarter, compared to analysts’ expectations of $543.16 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Range Resources’s quarterly revenue was up 16.7% on a year-over-year basis. analysts anticipate that Range Resources will post 0.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.02 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.08 annualized dividend and a yield of 0.47%. Range Resources’s dividend payout ratio (DPR) is presently -38.10%.
About Range Resources
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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