Range Resources Corp. (RRC) Given a $35.00 Price Target by Piper Jaffray Companies Analysts
Piper Jaffray Companies set a $35.00 target price on Range Resources Corp. (NYSE:RRC) in a research note published on Thursday. The firm currently has a buy rating on the oil and gas exploration company’s stock.
Several other equities research analysts also recently commented on RRC. Robert W. Baird reduced their target price on Range Resources Corp. from $29.00 to $22.00 and set a neutral rating for the company in a report on Friday, August 11th. Scotiabank set a $35.00 price target on Range Resources Corp. and gave the company a buy rating in a research report on Saturday, July 1st. Barclays PLC reissued an underweight rating and set a $18.00 price target (down from $20.00) on shares of Range Resources Corp. in a research report on Wednesday, August 9th. Citigroup Inc. dropped their price target on Range Resources Corp. from $34.00 to $30.00 and set a buy rating on the stock in a research report on Tuesday, August 15th. Finally, Stifel Nicolaus reissued a buy rating and set a $20.00 price target on shares of Range Resources Corp. in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $33.80.
Range Resources Corp. (NYSE:RRC) traded down 0.74% during mid-day trading on Thursday, reaching $18.86. The company had a trading volume of 3,679,320 shares. Range Resources Corp. has a 12 month low of $16.00 and a 12 month high of $39.64. The firm has a market capitalization of $4.60 billion, a P/E ratio of 127.43 and a beta of 0.95. The stock’s 50-day moving average is $19.06 and its 200 day moving average is $22.02.
Range Resources Corp. (NYSE:RRC) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corp. had a return on equity of 4.91% and a net margin of 12.38%. The business had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period in the prior year, the business posted ($1.35) earnings per share. Range Resources Corp.’s revenue was up 55.8% compared to the same quarter last year. On average, analysts predict that Range Resources Corp. will post $0.50 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, September 14th. Range Resources Corp.’s dividend payout ratio is 100.01%.
In other Range Resources Corp. news, Director Mary Ralph Lowe bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the purchase, the director now directly owns 25,413 shares in the company, valued at $457,179.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $16.81 per share, with a total value of $252,150.00. Following the purchase, the director now owns 27,267 shares in the company, valued at $458,358.27. 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. 2.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. State of Wisconsin Investment Board boosted its stake in Range Resources Corp. by 18.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 210,607 shares of the oil and gas exploration company’s stock valued at $4,880,000 after purchasing an additional 33,130 shares during the period. Matthew 25 Management Corp boosted its stake in Range Resources Corp. by 166.7% during the 2nd quarter. Matthew 25 Management Corp now owns 80,000 shares of the oil and gas exploration company’s stock valued at $1,854,000 after purchasing an additional 50,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Range Resources Corp. by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,726,118 shares of the oil and gas exploration company’s stock valued at $63,163,000 after purchasing an additional 194,141 shares during the period. Rovida Advisors Inc. bought a new stake in Range Resources Corp. during the 2nd quarter valued at approximately $4,634,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Range Resources Corp. during the 1st quarter valued at approximately $440,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
Range Resources Corp. 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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