Jefferies Group LLC reaffirmed their buy rating on shares of Range Resources Corp. (NYSE:RRC) in a report released on Thursday. Jefferies Group LLC currently has a $43.00 target price on the oil and gas exploration company’s stock.
RRC has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Range Resources Corp. from $52.00 to $48.00 and set a buy rating for the company in a research note on Thursday, March 23rd. R. F. Lafferty assumed coverage on shares of Range Resources Corp. in a research note on Wednesday, January 25th. They issued a buy rating and a $58.00 price objective for the company. Zacks Investment Research upgraded shares of Range Resources Corp. from a hold rating to a strong-buy rating and set a $31.00 target price on the stock in a report on Saturday, March 25th. Royal Bank of Canada reiterated a buy rating and issued a $50.00 target price on shares of Range Resources Corp. in a report on Wednesday, January 4th. Finally, Howard Weil upgraded shares of Range Resources Corp. from a sector perform rating to an outperform rating and set a $49.00 target price on the stock in a report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $45.71.
Shares of Range Resources Corp. (NYSE:RRC) traded down 0.14% during trading on Thursday, reaching $27.57. The company had a trading volume of 1,866,637 shares. Range Resources Corp. has a 12 month low of $26.61 and a 12 month high of $46.96. The firm’s market capitalization is $6.73 billion. The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $32.91. Range Resources Corp. also saw some unusual options trading activity on Tuesday. Stock investors purchased 21,507 put options on the company. This is an increase of approximately 981% compared to the typical volume of 1,990 put options.
Range Resources Corp. (NYSE:RRC) last issued its earnings results on Wednesday, February 22nd. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.13. The company earned $590.20 million during the quarter, compared to analyst estimates of $525.26 million. Range Resources Corp. had a negative net margin of 54.13% and a negative return on equity of 13.00%. The company’s revenue for the quarter was down 44.3% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Equities analysts predict that Range Resources Corp. will post $0.74 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, March 13th. Range Resources Corp.’s dividend payout ratio is presently -1.97%.
In related news, Director Christopher A. Helms bought 4,000 shares of the business’s stock in a transaction dated Friday, March 17th. The stock was bought at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the purchase, the director now owns 15,931 shares in the company, valued at approximately $437,465.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of RRC. Robert Wood Johnson Foundation bought a new stake in Range Resources Corp. during the third quarter worth about $3,576,000. Harvard Management Co. Inc. bought a new stake in 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 worth $31,778,000 after buying an additional 57,672 shares in the last quarter. Charles Stewart Mott Foundation bought a new stake in Range Resources Corp. during the third quarter worth about $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 worth $57,081,000 after buying an additional 110,385 shares in the last quarter. Institutional investors own 87.70% of the company’s stock.
About Range Resources Corp.
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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