Range Resources’ (RRC) Buy Rating Reiterated at Cowen
Range Resources (NYSE:RRC)‘s stock had its “buy” rating reiterated by research analysts at Cowen in a research report issued to clients and investors on Thursday. They presently have a $25.00 price target on the oil and gas exploration company’s stock. Cowen’s price objective would indicate a potential upside of 51.79% from the stock’s current price.
Several other research analysts also recently weighed in on the stock. Barclays reissued a “buy” rating and issued a $19.00 target price on shares of Range Resources in a research report on Sunday, December 24th. Zacks Investment Research raised shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, October 20th. Credit Suisse Group started coverage on shares of Range Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $24.00 target price on the stock. Morgan Stanley dropped their target price on shares of Range Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Finally, Scotiabank set a $27.00 target price on shares of Range Resources and gave the stock a “buy” rating in a research report on Saturday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Range Resources currently has an average rating of “Buy” and an average target price of $29.61.
Range Resources (RRC) traded down $0.31 during trading on Thursday, hitting $16.47. 5,960,587 shares of the stock traded hands, compared to its average volume of 7,460,000. The stock has a market capitalization of $4,090.00, a P/E ratio of -78.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50. Range Resources has a 1-year low of $15.33 and a 1-year high of $36.40.
In related news, CFO Roger S. Manny sold 10,757 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the completion of the sale, the chief financial officer now directly owns 143,703 shares in the company, valued at $2,359,603.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony V. Dub sold 2,897 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 96,000 shares of the company’s stock, 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 valued at $729,007. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RRC. Ameritas Investment Partners Inc. lifted its stake in Range Resources by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after acquiring an additional 64 shares during the last quarter. Jolley Asset Management LLC acquired a new stake in Range Resources in the fourth quarter valued at approximately $125,000. Capstone Investment Advisors Netherlands B.V. lifted its stake in Range Resources by 166.2% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock valued at $141,000 after acquiring an additional 3,801 shares during the last quarter. Stephens Inc. AR lifted its stake in Range Resources by 5.6% in the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock valued at $179,000 after acquiring an additional 412 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in Range Resources by 240.4% in the second quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock valued at $205,000 after acquiring an additional 6,250 shares during the last quarter.
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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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