Range Resources Corp. (RRC) Downgraded by Vetr Inc. to Buy
Vetr downgraded shares of Range Resources Corp. (NYSE:RRC) from a strong-buy rating to a buy rating in a report released on Monday morning. Vetr currently has $43.75 price objective on the oil and gas exploration company’s stock.
A number of other research firms also recently commented on RRC. Nomura downgraded shares of Range Resources Corp. from a buy rating to a neutral rating and set a $45.00 price objective for the company. in a report on Wednesday, June 8th. Jefferies Group reaffirmed a buy rating and set a $50.00 price objective (up from $45.00) on shares of Range Resources Corp. in a report on Sunday, July 10th. Imperial Capital raised shares of Range Resources Corp. from an in-line rating to an outperform rating and raised their price objective for the stock from $45.00 to $55.00 in a report on Thursday, July 14th. Deutsche Bank AG reduced their price objective on shares of Range Resources Corp. from $45.00 to $40.00 and set a hold rating for the company in a report on Tuesday, June 14th. Finally, Simmons began coverage on shares of Range Resources Corp. in a report on Wednesday, July 13th. They set an overweight rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $44.35.
Range Resources Corp. (NYSE:RRC) opened at 39.11 on Monday. Range Resources Corp. has a 12-month low of $19.21 and a 12-month high of $46.96. The company’s market capitalization is $6.52 billion. The stock has a 50 day moving average of $39.54 and a 200 day moving average of $40.14.
Range Resources Corp. (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. On average, equities research analysts predict that Range Resources Corp. will post ($0.21) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Wednesday, September 14th. 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 on 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 owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gregory Gene Maxwell acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, September 27th. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now owns 12,211 shares of the company’s stock, 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 made changes to their positions in RRC. Northwestern Mutual Wealth Management Co. raised 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 valued at $100,000 after buying an additional 769 shares during the period. SevenBridge Financial Group LLC purchased a new stake in Range Resources Corp. during the second quarter valued at about $115,000. AXA raised 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 valued at $101,000 after buying an additional 653 shares during the period. Euclid Advisors LLC purchased a new stake in Range Resources Corp. during the second quarter valued at about $170,000. Finally, Stephens Inc. AR raised 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 valued at $175,000 after buying an additional 808 shares during the period.
About Range Resources Corp.
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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