Range Resources Corporation (RRC) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Range Resources Corporation (NYSE:RRC) in a research note issued to investors on Tuesday. Jefferies Group LLC currently has a $25.00 price objective on the oil and gas exploration company’s stock. Jefferies Group also issued estimates for Range Resources Corporation’s Q3 2017 earnings at $0.05 EPS, Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.48 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.19 EPS, FY2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.17 EPS and FY2019 earnings at $0.82 EPS.
A number of other analysts have also weighed in on RRC. Robert W. Baird dropped their price objective on Range Resources Corporation from $29.00 to $22.00 and set a neutral rating for the company in a research note on Friday, August 11th. Stifel Nicolaus set a $21.00 price objective on Range Resources Corporation and gave the company a buy rating in a research note on Thursday, October 5th. Scotiabank set a $35.00 price objective on Range Resources Corporation and gave the company a buy rating in a research note on Saturday, July 1st. Barclays PLC reissued an underweight rating and set a $18.00 price objective (down previously from $20.00) on shares of Range Resources Corporation in a research note on Wednesday, August 9th. Finally, Citigroup Inc. dropped their price objective on Range Resources Corporation from $34.00 to $30.00 and set a buy rating for the company in a research note on Tuesday, August 15th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $33.89.
Range Resources Corporation (NYSE:RRC) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The business’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.35) earnings per share.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio is currently 100.01%.
In other Range Resources Corporation news, Director Steffen E. Palko acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Ralph Lowe acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. In the last three months, insiders have bought 26,000 shares of company stock worth $449,800. Corporate insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Range Resources Corporation by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after acquiring an additional 976,293 shares during the period. Sanders Capital LLC boosted its holdings in Range Resources Corporation by 6.7% during the 2nd quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock valued at $379,186,000 after acquiring an additional 932,706 shares during the period. BlackRock Inc. boosted its holdings in Range Resources Corporation by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after acquiring an additional 890,348 shares during the period. State Street Corp boosted its holdings in Range Resources Corporation by 15.0% during the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after acquiring an additional 1,805,404 shares during the period. Finally, Stelliam Investment Management LP boosted its holdings in Range Resources Corporation by 21.9% during the 1st quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after acquiring an additional 1,027,500 shares during the period. Institutional investors own 95.61% of the company’s stock.
Range Resources Corporation Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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