Shares of Range Resources Corp. (NYSE:RRC) have been given an average recommendation of “Buy” by the thirty brokerages that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.35.
Several equities analysts have issued reports on RRC shares. Scotiabank reissued a “buy” rating and issued a $49.00 price target on shares of Range Resources Corp. in a research note on Tuesday, February 21st. Nomura raised Range Resources Corp. from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Monday, February 6th. They noted that the move was a valuation call. KLR Group reaffirmed a “buy” rating and set a $60.00 target price (up from $59.00) on shares of Range Resources Corp. in a research report on Friday, February 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 target price on shares of Range Resources Corp. in a research report on Thursday, April 6th. Finally, Evercore ISI raised Range Resources Corp. to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday.
Range Resources Corp. (NYSE:RRC) traded up 0.199% on Tuesday, reaching $27.665. 2,669,298 shares of the company’s stock were exchanged. The firm’s market capitalization is $6.75 billion. The firm has a 50-day moving average of $28.14 and a 200-day moving average of $32.91. Range Resources Corp. has a 12 month low of $26.61 and a 12 month high of $46.96. Range Resources Corp. also was the recipient of some unusual options trading on Tuesday. Stock investors purchased 21,507 put options on the stock. This is an increase of 981% compared to the average volume of 1,990 put options.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings results on Wednesday, February 22nd. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.13. Range Resources Corp. had a negative return on equity of 13.00% and a negative net margin of 54.13%. The firm had revenue of $590.20 million for the quarter, compared to analyst estimates of $525.26 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was down 44.3% compared to the same quarter last year. On average, equities analysts expect that Range Resources Corp. will post $0.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a dividend of $0.02 per share. The ex-dividend date was Monday, March 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.29%. Range Resources Corp.’s dividend payout ratio (DPR) is -1.97%.
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In related news, Director Christopher A. Helms acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average price of $27.46 per share, with a total value of $109,840.00. Following the acquisition, the director now owns 15,931 shares of the company’s stock, valued at approximately $437,465.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Robert Wood Johnson Foundation bought a new stake in shares of Range Resources Corp. during the third quarter worth about $3,576,000. Harvard Management Co. Inc. bought a new stake in shares of Range Resources Corp. during the third quarter worth about $3,351,000. BlackRock Investment Management LLC boosted its stake in Range Resources Corp. by 7.6% in the third quarter. BlackRock Investment Management LLC now owns 820,070 shares of the oil and gas exploration company’s stock valued at $31,778,000 after buying an additional 57,672 shares during the last quarter. Charles Stewart Mott Foundation acquired a new stake in Range Resources Corp. during the third quarter valued at $3,454,000. Finally, BlackRock Group LTD boosted its stake in Range Resources Corp. by 8.1% in the third quarter. BlackRock Group LTD now owns 1,473,072 shares of the oil and gas exploration company’s stock valued at $57,081,000 after buying an additional 110,385 shares during the last quarter. 87.70% of the stock is currently owned by institutional investors and hedge funds.
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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