TheStreet Downgrades Range Resources (RRC) to D

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TheStreet downgraded shares of Range Resources (NYSE:RRC) from a c rating to a d rating in a research report sent to investors on Wednesday morning.

Several other equities analysts have also commented on RRC. Zacks Investment Research lowered Range Resources from a buy rating to a hold rating in a report on Tuesday, November 20th. MKM Partners started coverage on Range Resources in a report on Wednesday, December 5th. They set a neutral rating and a $17.00 target price for the company. Stephens started coverage on Range Resources in a report on Thursday, December 6th. They set an equal weight rating and a $21.00 target price for the company. Capital One Financial lowered Range Resources from an overweight rating to an equal weight rating in a report on Thursday, December 20th. Finally, B. Riley set a $21.00 target price on Range Resources and gave the company a buy rating in a report on Friday, December 21st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the stock. Range Resources currently has a consensus rating of Hold and a consensus target price of $18.37.

NYSE:RRC opened at $10.89 on Wednesday. The company has a market cap of $2.72 billion, a PE ratio of 9.64, a P/E/G ratio of 1.19 and a beta of 1.15. Range Resources has a 52 week low of $9.22 and a 52 week high of $18.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.77.

Range Resources (NYSE:RRC) last posted its earnings results on Monday, February 25th. The oil and gas exploration company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $736.35 million. Range Resources had a positive return on equity of 5.20% and a negative net margin of 53.20%. The business’s revenue was up 58.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Equities research analysts anticipate that Range Resources will post 0.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.73%. Range Resources’s dividend payout ratio is presently 7.08%.

In other news, Director Steven D. Gray bought 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $10.95 per share, for a total transaction of $219,000.00. Following the completion of the transaction, the director now directly owns 7,804 shares of the company’s stock, valued at approximately $85,453.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Funk bought 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $9.80 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 22,706 shares of the company’s stock, valued at $222,518.80. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Bank of New York Mellon Corp lifted its position in Range Resources by 34.0% in the second quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock worth $42,184,000 after purchasing an additional 640,077 shares during the period. Private Advisor Group LLC acquired a new stake in Range Resources in the third quarter worth approximately $293,000. Virginia Retirement Systems ET AL acquired a new stake in Range Resources in the third quarter worth approximately $736,000. Penserra Capital Management LLC lifted its position in Range Resources by 94.9% in the third quarter. Penserra Capital Management LLC now owns 9,860 shares of the oil and gas exploration company’s stock worth $166,000 after purchasing an additional 4,800 shares during the period. Finally, SG Americas Securities LLC lifted its position in Range Resources by 47.2% in the third quarter. SG Americas Securities LLC now owns 89,700 shares of the oil and gas exploration company’s stock worth $1,524,000 after purchasing an additional 28,762 shares during the period.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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