Range Resources (NYSE:RRC) had its price objective cut by SunTrust Banks to $12.00 in a report published on Tuesday morning, The Fly reports. They currently have a hold rating on the oil and gas exploration company’s stock. SunTrust Banks also issued estimates for Range Resources’ Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $1.02 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.14 EPS, FY2019 earnings at $1.02 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.18 EPS and FY2020 earnings at $0.95 EPS.
Other analysts have also issued reports about the company. B. Riley set a $21.00 price objective on Range Resources and gave the company a buy rating in a report on Friday, December 21st. Morgan Stanley set a $18.00 target price on Range Resources and gave the company a sell rating in a report on Friday, October 12th. Macquarie set a $18.00 target price on Range Resources and gave the company a hold rating in a report on Wednesday, September 26th. Guggenheim reaffirmed a buy rating and set a $22.00 target price on shares of Range Resources in a report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $29.00 target price on Range Resources and gave the company a buy rating in a report on Tuesday, October 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $20.21.
Shares of NYSE:RRC traded up $0.11 during trading on Tuesday, hitting $11.55. The company’s stock had a trading volume of 266,837 shares, compared to its average volume of 8,456,383. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.53 and a current ratio of 0.56. Range Resources has a fifty-two week low of $9.22 and a fifty-two week high of $18.59. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 0.65 and a beta of 0.96.
Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business had revenue of $811.20 million for the quarter, compared to analysts’ expectations of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The company’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts predict that Range Resources will post 0.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 14th were issued a $0.02 dividend. The ex-dividend date was Thursday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.69%. Range Resources’s payout ratio is currently 13.79%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Soros Fund Management LLC purchased a new stake in shares of Range Resources in the second quarter valued at $2,928,000. Palo Capital Inc. acquired a new position in shares of Range Resources in the third quarter worth $198,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Range Resources by 84.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock worth $1,087,000 after acquiring an additional 29,676 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Range Resources by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock worth $1,282,000 after acquiring an additional 8,054 shares during the last quarter. Finally, Rockshelter Capital Management LLC increased its stake in shares of Range Resources by 134.6% in the third quarter. Rockshelter Capital Management LLC now owns 330,477 shares of the oil and gas exploration company’s stock worth $5,615,000 after acquiring an additional 189,622 shares during the last quarter.
About Range Resources
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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