Range Resources Corp. (NYSE:RRC) Receives Average Rating of “Hold” from Analysts

Shares of Range Resources Corp. (NYSE:RRC) have earned an average rating of “Hold” from the twenty-three brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.94.

A number of brokerages have recently weighed in on RRC. Zacks Investment Research cut shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Guggenheim cut shares of Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. Cowen began coverage on shares of Range Resources in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $14.00 price objective for the company. TheStreet cut shares of Range Resources from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. Finally, TD Securities restated a “hold” rating and issued a $11.00 price objective (down from $15.00) on shares of Range Resources in a research note on Wednesday, February 27th.

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

Large investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Management Inc. bought a new stake in Range Resources during the 1st quarter worth about $129,000. Trexquant Investment LP grew its holdings in Range Resources by 9.9% during the 1st quarter. Trexquant Investment LP now owns 415,033 shares of the oil and gas exploration company’s stock worth $4,665,000 after acquiring an additional 37,283 shares during the last quarter. TCW Group Inc. bought a new stake in Range Resources during the 1st quarter worth about $620,000. Tortoise Capital Advisors L.L.C. grew its holdings in Range Resources by 96.3% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 920,560 shares of the oil and gas exploration company’s stock worth $10,347,000 after acquiring an additional 451,700 shares during the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in Range Resources by 11.1% during the 1st quarter. Kennedy Capital Management Inc. now owns 844,056 shares of the oil and gas exploration company’s stock worth $9,487,000 after acquiring an additional 84,176 shares during the last quarter.

RRC stock traded up $0.19 during trading hours on Monday, hitting $6.72. The company’s stock had a trading volume of 301,029 shares, compared to its average volume of 7,848,723. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.58 and a quick ratio of 0.54. The stock has a market cap of $1.64 billion, a P/E ratio of 5.97, a PEG ratio of 0.42 and a beta of 1.08. Range Resources has a 12 month low of $6.51 and a 12 month high of $18.59. The stock has a 50 day moving average of $8.42.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The business had revenue of $748.13 million during the quarter, compared to analysts’ expectations of $789.65 million. During the same period in the previous year, the company earned $0.46 earnings per share. Range Resources’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts predict that Range Resources will post 0.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, June 13th. Range Resources’s payout ratio is currently 7.08%.

Range Resources Company Profile

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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