Barclays PLC Reaffirms “Underweight” Rating for Range Resources Corporation (RRC)
Barclays PLC restated their underweight rating on shares of Range Resources Corporation (NYSE:RRC) in a research report released on Wednesday morning. Barclays PLC currently has a $18.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $20.00.
Other research analysts have also recently issued reports about the company. Royal Bank Of Canada set a $44.00 price objective on Range Resources Corporation and gave the company a buy rating in a report on Saturday, June 3rd. KLR Group lifted their price objective on Range Resources Corporation from $51.00 to $52.00 and gave the company a buy rating in a report on Wednesday, April 26th. J P Morgan Chase & Co reissued a buy rating on shares of Range Resources Corporation in a report on Tuesday, April 25th. Scotiabank reissued a buy rating and set a $44.00 price objective on shares of Range Resources Corporation in a report on Friday, April 21st. Finally, Evercore ISI raised Range Resources Corporation to a buy rating and set a $40.00 price objective for the company in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Range Resources Corporation currently has an average rating of Buy and a consensus price target of $40.14.
Range Resources Corporation (NYSE RRC) traded down 0.65% during mid-day trading on Wednesday, hitting $16.81. 6,461,280 shares of the company were exchanged. Range Resources Corporation has a 12-month low of $16.50 and a 12-month high of $43.60. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 113.58 and a beta of 0.92. The stock’s 50 day moving average is $20.98 and its 200-day moving average is $25.91.
Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.20. The firm had revenue of $565 million for the quarter, compared to the consensus estimate of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The business’s revenue was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.35) earnings per share. Equities research analysts predict that Range Resources Corporation will post $0.54 EPS for the current year.
In other news, COO Ray N. Walker, Jr. sold 7,200 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $23.17, for a total transaction of $166,824.00. Following the completion of the transaction, the chief operating officer now directly owns 63,861 shares in the company, valued at approximately $1,479,659.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total value of $662,549.20. Following the transaction, the insider now owns 106,692 shares of the company’s stock, valued at $2,459,250.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 30,000 shares of company stock valued at $541,640 and have sold 36,521 shares valued at $842,742. 2.40% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Range Resources Corporation by 4.4% in the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after buying an additional 976,293 shares during the last quarter. Sanders Capital LLC raised its position in Range Resources Corporation by 6.7% in the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock valued at $379,186,000 after buying an additional 932,706 shares during the last quarter. BlackRock Inc. raised its position in Range Resources Corporation by 6.8% in the second quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after buying an additional 890,348 shares during the last quarter. State Street Corp raised its position in Range Resources Corporation by 2.4% in the first quarter. State Street Corp now owns 12,051,572 shares of the oil and gas exploration company’s stock valued at $350,697,000 after buying an additional 284,490 shares during the last quarter. Finally, Stelliam Investment Management LP raised its position in Range Resources Corporation by 21.9% in the first quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after buying an additional 1,027,500 shares during the last quarter. Institutional investors own 93.84% of the company’s stock.
About Range Resources Corporation
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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