Range Resources Corp. (NYSE:RRC) – Seaport Global Securities dropped their Q1 2018 EPS estimates for shares of Range Resources in a report released on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Kelly now forecasts that the oil and gas exploration company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.25. Seaport Global Securities also issued estimates for Range Resources’ Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.17 EPS and FY2018 earnings at $0.52 EPS.
Several other equities research analysts also recently commented on the stock. B. Riley assumed coverage on shares of Range Resources in a research note on Monday, February 5th. They issued a “neutral” rating and a $16.00 target price on the stock. ValuEngine downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Raymond James Financial restated an “underperform” rating on shares of Range Resources in a research note on Monday, January 29th. Bank of America reduced their target price on shares of Range Resources from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reduced their price target on shares of Range Resources to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Range Resources has an average rating of “Hold” and a consensus price target of $25.59.
Several hedge funds have recently made changes to their positions in the company. BB&T Securities LLC increased its stake in shares of Range Resources by 53.3% in the 4th quarter. BB&T Securities LLC now owns 40,738 shares of the oil and gas exploration company’s stock valued at $694,000 after acquiring an additional 14,156 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Range Resources by 165.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 16,030 shares of the oil and gas exploration company’s stock valued at $273,000 after acquiring an additional 9,980 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Range Resources by 1,021.1% in the 4th quarter. Macquarie Group Ltd. now owns 21,300 shares of the oil and gas exploration company’s stock valued at $327,000 after acquiring an additional 19,400 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Range Resources in the 4th quarter valued at about $1,307,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of Range Resources in the 4th quarter valued at about $386,000. 95.64% of the stock is owned by institutional investors.
In other Range Resources news, CFO Roger S. Manny sold 10,757 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the transaction, the chief financial officer now directly owns 143,703 shares in the company, valued at approximately $2,359,603.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steffen E. Palko bought 34,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average price of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the transaction, the director now owns 61,267 shares in the company, valued at approximately $901,850.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 44,574 shares of company stock worth $729,007. Corporate insiders own 2.40% of the company’s stock.
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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.
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