Range Resources (NYSE:RRC)‘s stock had its “buy” rating reaffirmed by equities researchers at KLR Group in a note issued to investors on Monday. They currently have a $23.00 price objective on the oil and gas exploration company’s stock. KLR Group’s price target indicates a potential upside of 53.23% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $27.00 price objective on shares of Range Resources in a report on Friday, July 20th. Stifel Nicolaus assumed coverage on shares of Range Resources in a report on Wednesday, May 23rd. They set a “buy” rating and a $21.50 price objective for the company. TD Securities lowered their target price on Range Resources from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, July 31st. Wolfe Research upgraded Range Resources from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 27th. Finally, Seaport Global Securities downgraded Range Resources from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Range Resources presently has a consensus rating of “Hold” and a consensus price target of $21.98.
RRC traded up $0.15 during trading on Monday, reaching $15.01. 276,399 shares of the company traded hands, compared to its average volume of 7,884,410. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.52 and a quick ratio of 0.49. Range Resources has a 12-month low of $11.93 and a 12-month high of $20.65. The firm has a market cap of $3.92 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. Range Resources had a net margin of 2.46% and a return on equity of 4.00%. The business had revenue of $745.00 million during the quarter, compared to analyst estimates of $671.50 million. During the same period last year, the firm posted $0.06 EPS. The company’s revenue was up 31.9% on a year-over-year basis. sell-side analysts anticipate that Range Resources will post 0.91 earnings per share for the current year.
In related news, insider Jeffrey L. Ventura sold 8,767 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $17.54, for a total value of $153,773.18. Following the completion of the sale, the insider now directly owns 390,432 shares in the company, valued at $6,848,177.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David P. Poole sold 3,829 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $17.54, for a total value of $67,160.66. Following the completion of the sale, the vice president now owns 37,484 shares of the company’s stock, valued at $657,469.36. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. St. Johns Investment Management Company LLC bought a new stake in Range Resources in the second quarter worth $100,000. Envestnet Asset Management Inc. lifted its position in Range Resources by 53.9% in the first quarter. Envestnet Asset Management Inc. now owns 9,509 shares of the oil and gas exploration company’s stock worth $138,000 after buying an additional 3,331 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in Range Resources in the first quarter worth $143,000. Gagnon Securities LLC bought a new stake in Range Resources in the first quarter worth $188,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Range Resources by 244.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 12,995 shares of the oil and gas exploration company’s stock worth $189,000 after buying an additional 9,220 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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