Range Resources Corp. (RRC) Research Coverage Started at Barclays PLC
Equities researchers at Barclays PLC began coverage on shares of Range Resources Corp. (NYSE:RRC) in a research report issued on Wednesday. The brokerage set an “underweight” rating and a $34.00 price target on the oil and gas exploration company’s stock. Barclays PLC’s price target indicates a potential downside of 8.03% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reissued a “hold” rating on shares of Range Resources Corp. in a research report on Sunday, July 17th. Vetr downgraded shares of Range Resources Corp. from a “hold” rating to a “sell” rating and set a $40.37 price target for the company. in a research report on Wednesday, June 1st. Simmons initiated coverage on shares of Range Resources Corp. in a research report on Wednesday, July 13th. They issued an “overweight” rating and a $52.00 target price for the company. Imperial Capital raised shares of Range Resources Corp. from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $45.00 to $55.00 in a research report on Thursday, July 14th. Finally, Zacks Investment Research downgraded shares of Range Resources Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $44.44.
Range Resources Corp. (NYSE:RRC) opened at 36.97 on Wednesday. The stock has a 50 day moving average price of $39.55 and a 200-day moving average price of $39.96. The stock’s market cap is $6.16 billion. Range Resources Corp. has a 52 week low of $19.21 and a 52 week high of $46.96.
Range Resources Corp. (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. The company earned $362.67 million during the quarter, compared to the consensus estimate of $327.40 million. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. On average, equities analysts anticipate that Range Resources Corp. will post ($0.20) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.22%. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
In other news, COO Ray N. Walker, Jr. sold 13,350 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $37.53, for a total value of $501,025.50. Following the sale, the chief operating officer now directly owns 42,598 shares in the company, valued at approximately $1,598,702.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Gene Maxwell bought 1,000 shares of Range Resources Corp. stock in a transaction dated Tuesday, September 27th. The stock was acquired at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now owns 12,211 shares in the company, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in Range Resources Corp. by 49.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the oil and gas exploration company’s stock worth $100,000 after buying an additional 769 shares during the period. SevenBridge Financial Group LLC acquired a new stake in Range Resources Corp. during the second quarter worth $115,000. AXA increased its stake in Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 653 shares during the period. Euclid Advisors LLC acquired a new stake in Range Resources Corp. during the second quarter worth $170,000. Finally, Stephens Inc. AR increased its stake in Range Resources Corp. by 24.9% in the second quarter. Stephens Inc. AR now owns 4,049 shares of the oil and gas exploration company’s stock worth $175,000 after buying an additional 808 shares during the period.
Range Resources Corp. Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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