Range Resources Corp. (RRC) Given Consensus Recommendation of “Hold” by Brokerages

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Shares of Range Resources Corp. (NYSE:RRC) have been assigned an average rating of “Hold” from the twenty-four ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.24.

Several equities analysts have recently commented on RRC shares. TheStreet cut Range Resources from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. SunTrust Banks reduced their price objective on Range Resources to $12.00 and set a “hold” rating on the stock in a research note on Tuesday, January 8th. Morgan Stanley set a $11.00 price objective on Range Resources and gave the stock a “sell” rating in a research note on Tuesday, January 29th. B. Riley set a $21.00 price objective on Range Resources and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, TD Securities restated a “hold” rating and set a $11.00 price objective (down from $15.00) on shares of Range Resources in a research note on Wednesday, February 27th.

Range Resources stock opened at $8.74 on Friday. The company has a market cap of $2.24 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.58 and a quick ratio of 0.54. Range Resources has a 52 week low of $8.49 and a 52 week high of $18.59.

Range Resources (NYSE:RRC) last released its earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.12. The company had revenue of $748.13 million during the quarter, compared to analysts’ expectations of $789.65 million. Range Resources had a positive return on equity of 5.23% and a negative net margin of 54.57%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. As a group, analysts forecast that Range Resources will post 0.59 earnings per share for the current year.

In related news, CFO Mark Scucchi bought 11,100 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were bought at an average cost of $9.04 per share, for a total transaction of $100,344.00. Following the completion of the purchase, the chief financial officer now owns 3,068 shares of the company’s stock, valued at approximately $27,734.72. The transaction was disclosed in a filing 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 bought at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 22,706 shares of the company’s stock, valued at approximately $222,518.80. The disclosure for this purchase can be found here. Insiders acquired 41,100 shares of company stock worth $417,344 over the last quarter. 0.35% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of RRC. Pearl River Capital LLC bought a new stake in Range Resources in the fourth quarter valued at $25,000. Quadrant Capital Group LLC lifted its stake in Range Resources by 667.8% in the first quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock valued at $25,000 after buying an additional 1,950 shares during the last quarter. Rational Advisors LLC lifted its stake in Range Resources by 3,255.6% in the fourth quarter. Rational Advisors LLC now owns 3,020 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 2,930 shares during the last quarter. Sit Investment Associates Inc. bought a new stake in Range Resources in the fourth quarter valued at $45,000. Finally, Ayalon Holdings Ltd. lifted its stake in Range Resources by 87.1% in the fourth quarter. Ayalon Holdings Ltd. now owns 6,939 shares of the oil and gas exploration company’s stock valued at $66,000 after buying an additional 3,230 shares during the last quarter.

About Range Resources

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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