Range Resources (RRC) Given a $25.00 Price Target by Cowen Analysts
A number of other research firms have also commented on RRC. Stifel Nicolaus set a $21.00 price target on Range Resources and gave the stock a buy rating in a research report on Thursday, October 5th. Zacks Investment Research lowered Range Resources from a hold rating to a sell rating in a research report on Friday, October 13th. Jefferies Group restated a buy rating and set a $25.00 price target on shares of Range Resources in a research report on Tuesday, October 10th. Scotiabank restated a buy rating and set a $30.00 price target on shares of Range Resources in a research report on Monday, October 9th. Finally, Barclays upgraded Range Resources from an underweight rating to an overweight rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $29.61.
Range Resources (NYSE:RRC) traded down $0.39 during midday trading on Thursday, reaching $16.08. The company had a trading volume of 11,147,379 shares, compared to its average volume of 7,480,000. The company has a market cap of $3,990.00, a price-to-earnings ratio of -76.57, a PEG ratio of 1.34 and a beta of 0.91. Range Resources has a 1-year low of $15.33 and a 1-year high of $36.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Thursday, December 14th. Range Resources’s dividend payout ratio (DPR) is currently -38.10%.
In other news, Director Anthony V. Dub sold 2,897 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $16.06, for a total value of $46,525.82. Following the transaction, the director now owns 96,000 shares of the company’s stock, valued at approximately $1,541,760. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David P. Poole sold 30,920 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total value of $505,851.20. Following the completion of the transaction, the vice president now directly owns 17,647 shares in the company, valued at approximately $288,704.92. The disclosure for this sale can be found here. In the last three months, insiders sold 44,574 shares of company stock worth $729,007. 2.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. 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 worth $537,603,000 after buying an additional 976,293 shares during the period. 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 worth $332,679,000 after buying an additional 673,214 shares during the period. 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 worth $324,936,000 after buying an additional 890,348 shares during the period. 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 worth $321,059,000 after buying an additional 1,805,404 shares during the period. 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 worth $96,898,000 after buying an additional 612,032 shares during the period.
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Range Resources Company Profile
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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