Range Resources (RRC) Earns Underperform Rating from Raymond James Financial

Range Resources (NYSE:RRC)‘s stock had its “underperform” rating reissued by equities researchers at Raymond James Financial in a report released on Monday, MarketBeat.com reports.

A number of other research analysts also recently weighed in on the stock. Bank of America downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a report on Thursday, January 4th. Barclays restated a “buy” rating and set a $19.00 price target on shares of Range Resources in a report on Sunday, December 24th. Credit Suisse Group assumed coverage on shares of Range Resources in a report on Monday, December 11th. They set an “outperform” rating and a $24.00 price target on the stock. Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, October 20th. Finally, 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 report on Thursday, October 26th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Range Resources presently has an average rating of “Buy” and a consensus price target of $27.61.

Range Resources (NYSE:RRC) traded down $0.21 during trading on Monday, hitting $15.09. 7,296,367 shares of the stock were exchanged, compared to its average volume of 9,441,021. The company has a market cap of $3,750.00, a P/E ratio of -71.90, a P/E/G ratio of 1.06 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. Range Resources has a fifty-two week low of $14.77 and a fifty-two week high of $35.64.

In other news, Director Anthony V. Dub sold 2,897 shares of Range Resources stock in a transaction dated 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 directly owns 96,000 shares in the company, valued at approximately $1,541,760. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David P. Poole sold 30,920 shares of Range Resources stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total transaction of $505,851.20. Following the sale, the vice president now owns 17,647 shares in the company, valued at $288,704.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,574 shares of company stock worth $729,007. Insiders own 0.42% of the company’s stock.

Several institutional investors have recently modified their holdings of RRC. Teachers Advisors LLC boosted its position in shares of Range Resources by 12.0% during the 2nd quarter. Teachers Advisors LLC now owns 305,427 shares of the oil and gas exploration company’s stock valued at $7,077,000 after acquiring an additional 32,806 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Range Resources by 162.2% in the second quarter. Ameriprise Financial Inc. now owns 509,106 shares of the oil and gas exploration company’s stock valued at $11,808,000 after buying an additional 314,904 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Range Resources by 158.2% in the second quarter. PNC Financial Services Group Inc. now owns 93,727 shares of the oil and gas exploration company’s stock valued at $2,173,000 after buying an additional 57,431 shares in the last quarter. New York State Common Retirement Fund boosted its position in Range Resources by 23.4% in the second quarter. New York State Common Retirement Fund now owns 589,000 shares of the oil and gas exploration company’s stock valued at $13,647,000 after buying an additional 111,499 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Range Resources by 34.6% in the second quarter. UBS Asset Management Americas Inc. now owns 649,513 shares of the oil and gas exploration company’s stock valued at $15,049,000 after buying an additional 167,120 shares in the last quarter. Institutional investors and hedge funds own 95.71% 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.

Analyst Recommendations for Range Resources (NYSE:RRC)

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