Range Resources Corp. (NYSE:RRC) Given Average Rating of “Hold” by Brokerages

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Shares of Range Resources Corp. (NYSE:RRC) have earned a consensus recommendation of “Hold” from the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.51.

RRC has been the topic of several research reports. Cowen set a $27.00 price objective on Schnitzer Steel Industries and gave the company a “hold” rating in a research report on Tuesday, April 9th. Zacks Investment Research lowered Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Jefferies Financial Group cut their price objective on TherapeuticsMD from $4.00 to $3.00 in a research report on Monday. Guggenheim lowered Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the company a “hold” rating in a research report on Monday, June 24th.

NYSE:RRC traded down $0.20 during mid-day trading on Friday, hitting $5.39. The company had a trading volume of 568,157 shares, compared to its average volume of 8,064,563. The business has a fifty day simple moving average of $6.88. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.93. Range Resources has a 1 year low of $5.44 and a 1 year high of $18.59. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Monday, April 22nd. The oil and gas exploration company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Range Resources had a positive return on equity of 5.23% and a negative net margin of 54.57%. The company had revenue of $748.13 million for the quarter, compared to analyst estimates of $789.65 million. During the same period last year, the company posted $0.46 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts forecast that Range Resources will post 0.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Thursday, June 13th. Range Resources’s payout ratio is 7.08%.

In other news, Director Steven D. Gray purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $8.77 per share, for a total transaction of $175,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Scucchi purchased 11,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $9.04 per share, with a total value of $100,344.00. Following the completion of the purchase, the chief financial officer now directly owns 3,068 shares of the company’s stock, valued at approximately $27,734.72. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC grew 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 worth $25,000 after purchasing an additional 1,950 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Range Resources in the first quarter worth about $105,000. B. Riley Wealth Management Inc. acquired a new position in Range Resources in the first quarter worth about $129,000. NEXT Financial Group Inc acquired a new position in Range Resources in the second quarter worth about $137,000. Finally, Sciencast Management LP acquired a new position in Range Resources in the first quarter worth about $138,000.

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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