Range Resources (RRC) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Range Resources (NYSE:RRC) from a hold rating to a sell rating in a research report sent to investors on Monday.

Several other research firms have also recently weighed in on RRC. TheStreet upgraded shares of Range Resources from a d rating to a c- rating in a research note on Wednesday, February 28th. Bank of America reduced their target price on shares of Range Resources from $23.00 to $22.00 and set a neutral rating for the company in a research note on Thursday, January 25th. Royal Bank of Canada cut their price target on shares of Range Resources to $28.00 and set an outperform rating for the company in a research note on Thursday, January 25th. Capital One Financial cut shares of Range Resources from an overweight rating to an equal weight rating in a research note on Thursday, January 25th. Finally, UBS assumed coverage on shares of Range Resources in a research note on Wednesday, March 7th. They set a buy rating and a $18.50 price target for the company. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Range Resources has an average rating of Hold and a consensus target price of $23.04.

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NYSE RRC opened at $14.52 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.57 and a quick ratio of 0.54. Range Resources has a twelve month low of $11.93 and a twelve month high of $30.00. The stock has a market capitalization of $3,424.87, a P/E ratio of 25.03, a P/E/G ratio of 0.61 and a beta of 0.55.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.07. Range Resources had a net margin of 12.76% and a return on equity of 5.42%. The business had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $659.71 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was up 167.9% on a year-over-year basis. sell-side analysts anticipate that Range Resources will post 0.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, March 15th. Range Resources’s payout ratio is 13.79%.

In other news, Director Steffen E. Palko acquired 34,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $14.72 per share, with a total value of $500,480.00. Following the completion of the acquisition, the director now owns 61,267 shares in the company, valued at approximately $901,850.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MHI Funds LLC acquired a new stake in shares of Range Resources during the fourth quarter worth approximately $122,000. Jolley Asset Management LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $125,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $192,000. Koch Industries Inc. acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $187,000. Finally, FDx Advisors Inc. acquired a new stake in shares of Range Resources in the fourth quarter valued at approximately $222,000. 96.32% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Range Resources (NYSE:RRC)

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