Nomura reiterated their hold rating on shares of Range Resources Corp. (NYSE:RRC) in a research report sent to investors on Monday morning. Nomura currently has a $45.00 price objective on the oil and gas exploration company’s stock.
A number of other equities research analysts have also issued reports on the stock. Credit Suisse Group AG restated an outperform rating and set a $49.00 price target on shares of Range Resources Corp. in a report on Wednesday, September 21st. Deutsche Bank AG cut 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 report on Tuesday, June 14th. BMO Capital Markets lowered shares of Range Resources Corp. from an outperform rating to a market perform rating in a report on Friday, July 29th. Stifel Nicolaus restated a buy rating and set a $52.00 price target on shares of Range Resources Corp. in a report on Friday, September 30th. Finally, Simmons initiated coverage on shares of Range Resources Corp. in a report on Wednesday, July 13th. They set an overweight rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Range Resources Corp. currently has an average rating of Hold and a consensus price target of $44.35.
Range Resources Corp. (NYSE:RRC) opened at 38.45 on Monday. Range Resources Corp. has a 52 week low of $19.21 and a 52 week high of $46.96. The stock’s market cap is $6.41 billion. The stock has a 50 day moving average of $39.52 and a 200-day moving average of $40.16.
Range Resources Corp. (NYSE:RRC) last released its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $362.67 million for the quarter, compared to the consensus estimate of $327.40 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts forecast that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 14th. Range Resources Corp.’s dividend payout ratio is -1.42%.
In related news, COO Ray N. Walker, Jr. sold 13,350 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $37.53, for a total transaction of $501,025.50. Following the completion of the sale, the chief operating officer now owns 42,598 shares in the company, valued at approximately $1,598,702.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Gene Maxwell bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The shares were purchased at an average price of $37.00 per share, with a total value of $37,000.00. Following the transaction, the director now directly owns 12,211 shares in the company, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Range Resources Corp. by 449.6% in the second quarter. FMR LLC now owns 4,634,388 shares of the oil and gas exploration company’s stock worth $199,928,000 after buying an additional 3,791,208 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $116,394,000. Blue Ridge Capital L.L.C. purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $106,556,000. Blackstone Group L.P. purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $25,309,000. Finally, British Airways Pensions Investment Management Ltd purchased a new stake in shares of Range Resources Corp. during the second quarter worth about $23,916,000.
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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