Range Resources (RRC) Upgraded to Hold at ValuEngine
ValuEngine upgraded shares of Range Resources (NYSE:RRC) from a sell rating to a hold rating in a report published on Friday.
RRC has been the topic of a number of other reports. Robert W. Baird dropped their target price on shares of Range Resources from $29.00 to $22.00 and set a neutral rating on the stock in a report on Friday, August 11th. Morgan Stanley dropped their target price on shares of Range Resources from $19.00 to $18.00 and set an equal weight rating on the stock in a report on Thursday, October 26th. Jefferies Group set a $36.00 target price on shares of Range Resources and gave the stock a buy rating in a research report on Tuesday, August 29th. Scotiabank reissued a buy rating and issued a $30.00 target price on shares of Range Resources in a research report on Monday, October 9th. Finally, BMO Capital Markets set a $30.00 target price on shares of Range Resources and gave the stock a buy rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources currently has a consensus rating of Buy and a consensus price target of $31.76.
Range Resources (NYSE RRC) traded down $0.63 during mid-day trading on Friday, hitting $17.87. 5,242,600 shares of the company’s stock were exchanged, compared to its average volume of 5,870,587. Range Resources has a one year low of $15.99 and a one year high of $39.64. The company has a market cap of $4,430.00, a P/E ratio of 51.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47.
Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The business had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. sell-side analysts anticipate that Range Resources will post 0.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Thursday, December 14th. Range Resources’s payout ratio is -38.10%.
Several institutional investors have recently modified their holdings of RRC. Vanguard Group Inc. raised its stake in Range Resources by 4.4% during the 2nd 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 purchasing an additional 976,293 shares during the last quarter. Sanders Capital LLC raised its stake in Range Resources by 4.5% during the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock valued at $332,679,000 after purchasing an additional 673,214 shares during the last quarter. BlackRock Inc. raised its stake in Range Resources by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after purchasing an additional 890,348 shares during the last quarter. State Street Corp raised its stake in Range Resources by 15.0% during the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after purchasing an additional 1,805,404 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Range Resources by 14.1% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock valued at $96,898,000 after purchasing an additional 612,032 shares during the last quarter. Institutional investors and hedge funds own 95.72% of the company’s stock.
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About Range Resources
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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