Range Resources Corp. (RRC) Given a $50.00 Price Target by Jefferies Group Analysts
Range Resources Corp. (NYSE:RRC) has been assigned a $50.00 price objective by investment analysts at Jefferies Group in a research note issued on Tuesday. The brokerage currently has a a “buy” rating on the oil and gas exploration company’s stock. Jefferies Group’s target price would suggest a potential upside of 31.34% from the stock’s previous close.
RRC has been the topic of several other research reports. Credit Suisse Group AG reiterated an “outperform” rating and set a $49.00 target price on shares of Range Resources Corp. in a report on Wednesday, September 21st. BMO Capital Markets lowered Range Resources Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, July 29th. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 target price on shares of Range Resources Corp. in a report on Friday, September 30th. Simmons assumed coverage on Range Resources Corp. in a report on Wednesday, July 13th. They set an “overweight” rating and a $52.00 target price on the stock. Finally, Nomura reiterated a “hold” rating and set a $45.00 target price on shares of Range Resources Corp. in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $44.31.
Range Resources Corp. (NYSE:RRC) traded up 1.21% during mid-day trading on Tuesday, reaching $38.53. The company’s stock had a trading volume of 2,679,228 shares. The company has a 50 day moving average of $39.14 and a 200-day moving average of $40.58. The stock’s market cap is $6.42 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 released its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The business had revenue of $362.67 million for the quarter, compared to analyst estimates of $327.40 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Range Resources Corp.’s revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio (DPR) is presently -1.42%.
In other Range Resources Corp. news, Director Gregory Gene Maxwell acquired 1,000 shares of the stock in a transaction dated Tuesday, September 27th. The stock was purchased at an average cost of $37.00 per share, with a total value of $37,000.00. Following the transaction, the director now owns 12,211 shares in the company, valued at approximately $451,807. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Ray N. Walker, Jr. sold 13,350 shares of Range Resources Corp. stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $37.53, for a total value of $501,025.50. Following the completion of the transaction, the chief operating officer now directly owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position 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. AXA raised its position 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. SevenBridge Financial Group LLC acquired a new position in Range Resources Corp. during the second quarter valued at $115,000. FNY Managed Accounts LLC acquired a new position in Range Resources Corp. during the third quarter valued at $116,000. Finally, Euclid Advisors LLC acquired a new position in Range Resources Corp. during the second quarter valued at $170,000.
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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