Barclays PLC assumed coverage on shares of Range Resources Corp. (NYSE:RRC) in a report released on Wednesday morning. The firm issued an underweight rating and a $34.00 price target on the oil and gas exploration company’s stock.
Several other brokerages have also issued reports on RRC. Vetr lowered Range Resources Corp. from a hold rating to a sell rating and set a $44.39 price target on the stock. in a research note on Tuesday, June 21st. Nomura lowered Range Resources Corp. from a buy rating to a neutral rating and set a $45.00 price target on the stock. in a research note on Wednesday, June 8th. Jefferies Group restated a buy rating and set a $50.00 price target (up from $45.00) on shares of Range Resources Corp. in a research note on Sunday, July 10th. Imperial Capital upgraded Range Resources Corp. from an in-line rating to an outperform rating and boosted their price target for the company from $45.00 to $55.00 in a research note on Thursday, July 14th. Finally, Deutsche Bank AG lowered their price target on Range Resources Corp. from $45.00 to $40.00 and set a hold rating on the stock in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $44.53.
Range Resources Corp. (NYSE:RRC) traded down 1.66% during trading on Wednesday, hitting $37.98. The stock had a trading volume of 1,323,176 shares. The firm’s market cap is $6.33 billion. The firm’s 50 day moving average is $39.54 and its 200 day moving average is $39.95. Range Resources Corp. has a 1-year low of $19.21 and a 1-year high of $46.96.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The firm had revenue of $362.67 million for the quarter, compared to analyst estimates of $327.40 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts anticipate that Range Resources Corp. will post ($0.21) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Wednesday, September 14th. Range Resources Corp.’s payout ratio is -1.42%.
In related news, Director Gregory Gene Maxwell acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was bought at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the acquisition, the director now directly owns 12,211 shares of the company’s stock, valued at $451,807. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $37.53, for a total value of $501,025.50. Following the completion of the transaction, the chief operating officer now owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Range Resources Corp. by 49.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 769 shares during the last quarter. SevenBridge Financial Group LLC bought a new position in shares of Range Resources Corp. during the second quarter valued at $115,000. AXA boosted its position in shares of Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 653 shares during the last quarter. Euclid Advisors LLC bought a new position in shares of Range Resources Corp. during the second quarter valued at $170,000. Finally, Stephens Inc. AR boosted its position in shares of Range Resources Corp. by 24.9% in the second quarter. Stephens Inc. AR now owns 4,049 shares of the oil and gas exploration company’s stock valued at $175,000 after buying an additional 808 shares during the last quarter.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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