Range Resources Corp. (RRC) Stock Rating Upgraded by BMO Capital Markets
Range Resources Corp. (NYSE:RRC) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Thursday. The firm currently has a $44.00 price target on the oil and gas exploration company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 29.34% from the stock’s previous close.
Several other analysts have also issued reports on RRC. Jefferies Group set a $50.00 price objective on Range Resources Corp. and gave the stock a “buy” rating in a report on Tuesday, October 18th. Vetr lowered Range Resources Corp. from a “strong-buy” rating to a “buy” rating and set a $43.75 price objective for the company. in a report on Monday, October 3rd. KLR Group upgraded Range Resources Corp. from an “accumulate” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Thursday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $52.00 price objective on shares of Range Resources Corp. in a report on Friday, September 30th. Finally, GMP Securities began coverage on Range Resources Corp. in a report on Wednesday, September 28th. They set a “buy” rating and a $47.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.38.
Range Resources Corp. (NYSE:RRC) opened at 34.02 on Thursday. The stock’s market cap is $8.29 billion. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96. The company has a 50-day moving average price of $36.37 and a 200-day moving average price of $40.28.
Range Resources Corp. (NYSE:RRC) last issued its earnings results on Tuesday, October 25th. The oil and gas exploration company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.10. The business earned $413 million during the quarter, compared to analysts’ expectations of $152.84 million. Range Resources Corp. had a negative return on equity of 13.00% and a negative net margin of 54.13%. Range Resources Corp.’s revenue was down 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Range Resources Corp. will post ($0.20) earnings per share for the current year.
In other Range Resources Corp. news, COO Ray N. Walker, Jr. sold 13,350 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.53, for a total transaction of $501,025.50. Following the completion of the sale, the chief operating officer now owns 42,598 shares in the company, valued at approximately $1,598,702.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Gene Maxwell bought 1,000 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were acquired at an average price of $37.00 per share, with a total value of $37,000.00. Following the transaction, the director now directly owns 12,211 shares in the company, valued at approximately $451,807. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. AXA boosted its stake in shares of 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 last quarter. Geode Capital Management LLC boosted its stake in shares of Range Resources Corp. by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,381,218 shares of the oil and gas exploration company’s stock valued at $44,632,000 after buying an additional 34,077 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Range Resources Corp. during the first quarter valued at approximately $583,000. Legal & General Group Plc boosted its stake in shares of Range Resources Corp. by 3.6% in the first quarter. Legal & General Group Plc now owns 691,388 shares of the oil and gas exploration company’s stock valued at $22,388,000 after buying an additional 24,206 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Range Resources Corp. during the first quarter valued at approximately $2,390,000.
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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