Range Resources Corporation (RRC) Given Average Rating of “Buy” by Analysts

Range Resources Corporation (NYSE:RRC) has received a consensus rating of “Buy” from the thirty ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.02.

RRC has been the topic of several recent research reports. Piper Jaffray Companies set a $35.00 price objective on Range Resources and gave the company a “buy” rating in a research report on Thursday, October 19th. Scotiabank restated a “buy” rating and issued a $30.00 price objective on shares of Range Resources in a research report on Monday, October 9th. Vetr upgraded Range Resources from a “buy” rating to a “strong-buy” rating and set a $22.02 price objective on the stock in a research report on Monday, October 2nd. Zacks Investment Research upgraded Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Friday, October 20th. Finally, Bank of America downgraded Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday.

In related news, CFO Roger S. Manny sold 10,757 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total value of $176,629.94. Following the sale, the chief financial officer now owns 143,703 shares of the company’s stock, valued at approximately $2,359,603.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP David P. Poole sold 30,920 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.36, for a total value of $505,851.20. Following the completion of the sale, the vice president now directly owns 17,647 shares in the company, valued at approximately $288,704.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,574 shares of company stock worth $729,007. 0.42% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of RRC. State Street Corp increased its position in Range Resources by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after acquiring an additional 1,805,404 shares during the period. Point72 Asset Management L.P. acquired a new stake in Range Resources in the 3rd quarter valued at approximately $34,462,000. UBS Oconnor LLC increased its position in Range Resources by 246.9% in the 2nd quarter. UBS Oconnor LLC now owns 2,273,650 shares of the oil and gas exploration company’s stock valued at $52,680,000 after acquiring an additional 1,618,250 shares during the period. Vanguard Group Inc. increased its position in Range Resources by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after acquiring an additional 976,293 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Range Resources by 72.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock valued at $53,825,000 after purchasing an additional 973,814 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Range Resources (NYSE RRC) traded up $0.12 on Monday, reaching $16.88. The company’s stock had a trading volume of 6,336,836 shares, compared to its average volume of 9,447,250. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50. The stock has a market capitalization of $4,150.00, a P/E ratio of -80.37 and a beta of 0.91. Range Resources has a one year low of $15.33 and a one year high of $36.40.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. equities analysts anticipate that Range Resources will post 0.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, December 14th. Range Resources’s dividend payout ratio is presently -38.10%.

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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.

Analyst Recommendations for Range Resources (NYSE:RRC)

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