Range Resources Corp. (NYSE:RRC) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, The Fly reports.
A number of other analysts also recently commented on the stock. Jefferies Group reiterated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Range Resources Corp. in a report on Sunday, July 10th. Vetr upgraded shares of Range Resources Corp. from a “hold” rating to a “buy” rating and set a $45.28 target price on the stock in a report on Monday, July 4th. Zacks Investment Research lowered shares of Range Resources Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Piper Jaffray Cos. restated an “overweight” rating and set a $52.00 price target on shares of Range Resources Corp. in a report on Friday, July 15th. Finally, Imperial Capital upgraded shares of 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 report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have given a buy rating to the company. Range Resources Corp. presently has a consensus rating of “Buy” and a consensus price target of $44.35.
Range Resources Corp. (NYSE:RRC) opened at 38.45 on Friday. The company’s 50 day moving average is $39.52 and its 200 day moving average is $40.16. Range Resources Corp. has a 12-month low of $19.21 and a 12-month high of $46.96. The firm’s market cap is $6.41 billion.
Range Resources Corp. (NYSE:RRC) last released its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $362.67 million for the quarter, compared to the consensus estimate of $327.40 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts anticipate that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the stock in a transaction on 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 directly owns 42,598 shares of the company’s stock, valued at approximately $1,598,702.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory Gene Maxwell purchased 1,000 shares of Range Resources Corp. stock in a transaction on Tuesday, September 27th. The stock was bought at an average cost of $37.00 per share, with a total value of $37,000.00. Following the completion of the acquisition, the director now owns 12,211 shares in the company, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of RRC. Northwestern Mutual Wealth Management Co. increased 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 worth $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 worth $115,000. AXA increased 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 worth $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 worth $170,000. Finally, Stephens Inc. AR increased 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 worth $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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