Range Resources Corp. (NYSE:RRC)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a note issued to investors on Friday. They presently have a $52.00 target price on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 34.19% from the company’s current price.
Several other analysts have also recently weighed in on RRC. JPMorgan Chase & Co. reissued a “hold” rating on shares of Range Resources Corp. in a research note on Sunday, July 17th. BMO Capital Markets reissued a “market perform” rating and issued a $44.00 price target on shares of Range Resources Corp. in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 12th. Cantor Fitzgerald reissued a “neutral” rating on shares of Range Resources Corp. in a research note on Thursday, June 2nd. Finally, Deutsche Bank AG dropped their price target on shares of Range Resources Corp. from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Range Resources Corp. currently has a consensus rating of “Buy” and an average price target of $44.53.
Range Resources Corp. (NYSE:RRC) traded up 3.17% during mid-day trading on Friday, hitting $38.75. 4,425,039 shares of the stock traded hands. The stock’s market cap is $6.46 billion. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96. The stock has a 50-day moving average price of $39.53 and a 200-day moving average price of $39.99.
Range Resources Corp. (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The firm earned $362.67 million during the quarter, compared to the consensus estimate of $327.40 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts forecast 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. Investors of record on Friday, September 16th will be paid 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 dividend payout ratio (DPR) is -1.42%.
In related news, 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 sale, the chief operating officer now owns 42,598 shares in the company, valued at $1,598,702.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Gene Maxwell acquired 1,000 shares of Range Resources Corp. stock in a transaction that occurred on Tuesday, September 27th. The stock was bought at an average price of $37.00 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 12,211 shares of the company’s stock, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake 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 period. SevenBridge Financial Group LLC bought a new stake in shares of Range Resources Corp. during the second quarter valued at approximately $115,000. AXA boosted its stake 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 period. Euclid Advisors LLC bought a new stake in shares of Range Resources Corp. during the second quarter valued at approximately $170,000. Finally, Stephens Inc. AR boosted its stake 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 period.
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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