Equities research analysts at Barclays PLC assumed coverage on shares of Range Resources Corp. (NYSE:RRC) in a research report issued on Wednesday, StockTargetPrices.com reports. The firm set an “underweight” rating and a $34.00 price target on the oil and gas exploration company’s stock. Barclays PLC’s price objective would indicate a potential downside of 8.03% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group AG restated an “outperform” rating and set a $49.00 price objective on shares of Range Resources Corp. in a research report on Wednesday, September 21st. Morgan Stanley assumed coverage on shares of Range Resources Corp. in a research report on Tuesday, September 20th. They set an “equal weight” rating and a $45.00 price objective for the company. Jefferies Group set a $50.00 price objective on shares of Range Resources Corp. and gave the stock a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research cut shares of Range Resources Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.44.
Range Resources Corp. (NYSE:RRC) opened at 36.97 on Wednesday. The company’s market capitalization is $6.16 billion. The company’s 50-day moving average is $39.55 and its 200 day moving average is $39.96. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96.
Range Resources Corp. (NYSE:RRC) last posted 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 Thomson Reuters’ consensus estimate of ($0.21) by $0.07. The firm had revenue of $362.67 million for the quarter, compared to the consensus estimate of $327.40 million. Range Resources Corp. had a negative net margin of 71.00% and a negative return on equity of 14.57%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. On average, equities analysts anticipate that Range Resources Corp. will post ($0.20) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.22%. Range Resources Corp.’s dividend payout ratio (DPR) is -1.42%.
In other Range Resources Corp. news, Director Gregory Gene Maxwell purchased 1,000 shares of Range Resources Corp. stock in a transaction that occurred on Tuesday, September 27th. The stock was purchased at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the transaction, the director now directly owns 12,211 shares in the company, valued at $451,807. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in RRC. Northwestern Mutual Wealth Management Co. increased its stake in Range Resources Corp. by 49.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 769 shares during the period. AXA boosted its position in shares of Range Resources Corp. by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 653 shares in the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Range Resources Corp. during the second quarter valued at about $115,000. Euclid Advisors LLC purchased a new position in shares of Range Resources Corp. during the second quarter valued at about $170,000. Finally, Stephens Inc. AR boosted its position in shares of Range Resources Corp. by 24.9% in the second quarter. Stephens Inc. AR now owns 4,049 shares of the oil and gas exploration company’s stock valued at $175,000 after buying an additional 808 shares in the last quarter.
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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