Jefferies Financial Group lowered shares of Range Resources (NYSE:RRC) from a buy rating to a hold rating in a report published on Monday morning, BenzingaRatingsTable reports. They currently have $7.00 target price on the oil and gas exploration company’s stock, down from their prior target price of $17.00. Jefferies Financial Group also issued estimates for Range Resources’ Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.00 EPS, Q4 2019 earnings at $0.09 EPS, FY2019 earnings at $0.45 EPS, Q1 2020 earnings at $0.12 EPS, Q2 2020 earnings at ($0.03) EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at $0.09 EPS, FY2020 earnings at $0.17 EPS, Q1 2021 earnings at $0.13 EPS, Q2 2021 earnings at ($0.03) EPS and FY2021 earnings at $0.19 EPS.

Several other research analysts have also commented on RRC. Guggenheim lowered Range Resources from a buy rating to a neutral rating in a research report on Thursday, April 25th. Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a research report on Wednesday, May 22nd. Morgan Stanley set a $23.00 price target on Cabot Oil & Gas and gave the stock a hold rating in a research report on Monday, June 24th. Finally, Cowen set a $27.00 price target on Schnitzer Steel Industries and gave the stock a hold rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $15.71.

RRC opened at $5.23 on Monday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 4.63, a price-to-earnings-growth ratio of 0.94 and a beta of 0.97. The company has a current ratio of 0.58, a quick ratio of 0.54 and a debt-to-equity ratio of 0.93. Range Resources has a 12 month low of $5.19 and a 12 month high of $18.59. The stock has a fifty day moving average of $6.83.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.12. The firm had revenue of $748.13 million during the quarter, compared to analyst estimates of $789.65 million. Range Resources had a positive return on equity of 5.23% and a negative net margin of 54.57%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, research analysts forecast that Range Resources will post 0.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.08 annualized dividend and a yield of 1.53%. Range Resources’s dividend payout ratio (DPR) is 7.08%.

In other news, Director Steven D. Gray purchased 20,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $8.77 per share, for a total transaction of $175,400.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Scucchi purchased 11,100 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $100,344.00. Following the purchase, the chief financial officer now owns 3,068 shares in the company, valued at approximately $27,734.72. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System grew its stake in Range Resources by 1.3% during the fourth quarter. California Public Employees Retirement System now owns 303,971 shares of the oil and gas exploration company’s stock worth $2,909,000 after buying an additional 3,879 shares in the last quarter. New York State Common Retirement Fund grew its stake in Range Resources by 2.4% during the fourth quarter. New York State Common Retirement Fund now owns 410,198 shares of the oil and gas exploration company’s stock worth $3,926,000 after buying an additional 9,420 shares in the last quarter. BlackRock Inc. grew its stake in Range Resources by 4.1% during the fourth quarter. BlackRock Inc. now owns 19,457,675 shares of the oil and gas exploration company’s stock worth $186,211,000 after buying an additional 771,511 shares in the last quarter. Raymond James & Associates grew its stake in Range Resources by 14.6% during the fourth quarter. Raymond James & Associates now owns 104,033 shares of the oil and gas exploration company’s stock worth $996,000 after buying an additional 13,228 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Range Resources by 9.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 181,887 shares of the oil and gas exploration company’s stock worth $1,632,000 after buying an additional 14,995 shares in the last quarter.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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