Vetr cut shares of Range Resources Corp. (NYSE:RRC) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning. Vetr currently has $43.75 target price on the oil and gas exploration company’s stock.
RRC has been the topic of several other research reports. Credit Suisse Group AG restated an outperform rating and issued a $49.00 price target on shares of Range Resources Corp. in a research report on Wednesday, September 21st. Deutsche Bank AG reduced their price target on shares of Range Resources Corp. from $45.00 to $40.00 and set a hold rating on the stock in a research report on Tuesday, June 14th. BMO Capital Markets cut shares of Range Resources Corp. from an outperform rating to a market perform rating in a research report on Friday, July 29th. Stifel Nicolaus restated a buy rating and issued a $52.00 price target on shares of Range Resources Corp. in a research report on Friday, September 30th. Finally, Simmons assumed coverage on shares of Range Resources Corp. in a research report on Wednesday, July 13th. They issued an overweight rating and a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the stock. Range Resources Corp. currently has an average rating of Hold and an average target price of $44.35.
Shares of Range Resources Corp. (NYSE:RRC) opened at 39.00 on Monday. Range Resources Corp. has a 52-week low of $19.21 and a 52-week high of $46.96. The stock has a 50 day moving average of $39.53 and a 200 day moving average of $40.17. The stock’s market capitalization is $6.50 billion.
Range Resources Corp. (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The company had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. Range Resources Corp.’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts forecast that Range Resources Corp. will post ($0.21) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.02 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. Range Resources Corp.’s payout ratio is -1.42%.
In other news, Director Gregory Gene Maxwell acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, September 27th. The shares were acquired at an average price of $37.00 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 12,211 shares of the company’s stock, valued at $451,807. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $37.53, for a total transaction of $501,025.50. Following the sale, the chief operating officer now directly owns 42,598 shares in the company, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC raised its position in shares of Range Resources Corp. by 39.0% in the first quarter. Aperio Group LLC now owns 160,051 shares of the oil and gas exploration company’s stock worth $5,182,000 after buying an additional 44,867 shares during the period. Nisa Investment Advisors L.L.C. acquired a new position in shares of Range Resources Corp. during the first quarter worth about $1,229,000. Virginia Retirement System acquired a new position in shares of Range Resources Corp. during the first quarter worth about $322,000. TIAA CREF Investment Management LLC raised its position in shares of Range Resources Corp. by 21.7% in the first quarter. TIAA CREF Investment Management LLC now owns 800,365 shares of the oil and gas exploration company’s stock worth $25,916,000 after buying an additional 142,956 shares during the period. Finally, Teachers Advisors Inc. raised its position in shares of Range Resources Corp. by 3.1% in the first quarter. Teachers Advisors Inc. now owns 571,790 shares of the oil and gas exploration company’s stock worth $18,515,000 after buying an additional 17,439 shares during the period.
About Range Resources Corp.
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.
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