Range Resources (RRC) Receives “Buy” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Range Resources (NYSE:RRC) in a research report sent to investors on Monday morning.

A number of other equities research analysts also recently issued reports on the company. B. Riley set a $21.00 price objective on Range Resources and gave the stock a buy rating in a research report on Friday, December 21st. BMO Capital Markets downgraded Range Resources from an outperform rating to a market perform rating in a research report on Monday. Bank of America downgraded Range Resources from a neutral rating to an underperform rating in a research report on Friday, January 4th. TD Securities upgraded Range Resources from a hold rating to a buy rating and lowered their price objective for the stock from $19.00 to $15.00 in a research report on Monday. Finally, MKM Partners initiated coverage on Range Resources in a research report on Wednesday, December 5th. They issued a neutral rating and a $17.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $20.21.

NYSE:RRC opened at $11.26 on Monday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.65 and a beta of 0.96. Range Resources has a 1 year low of $9.22 and a 1 year high of $18.59. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $811.20 million for the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The business’s quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, analysts predict that Range Resources will post 0.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.71%. Range Resources’s dividend payout ratio is presently 13.79%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Retirement Systems of Alabama grew its stake in shares of Range Resources by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 268,503 shares of the oil and gas exploration company’s stock valued at $2,570,000 after buying an additional 933 shares during the last quarter. Palo Capital Inc. bought a new position in shares of Range Resources during the third quarter valued at about $198,000. ANTIPODES PARTNERS Ltd grew its stake in shares of Range Resources by 7.4% during the third quarter. ANTIPODES PARTNERS Ltd now owns 6,264,301 shares of the oil and gas exploration company’s stock valued at $106,430,000 after buying an additional 433,986 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Range Resources by 1,488.4% during the third quarter. Rehmann Capital Advisory Group now owns 14,407 shares of the oil and gas exploration company’s stock valued at $848,000 after buying an additional 13,500 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC bought a new position in shares of Range Resources during the third quarter valued at about $1,067,000.

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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