Brokerages Set Range Resources Corp. (RRC) PT at $25.59
Shares of Range Resources Corp. (NYSE:RRC) have earned a consensus rating of “Hold” from the thirty ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.50.
Several research analysts have commented on the stock. TheStreet upgraded shares of Range Resources from a “d” rating to a “c-” rating in a report on Wednesday. KLR Group reiterated a “buy” rating and set a $27.00 price target (up previously from $26.00) on shares of Range Resources in a report on Thursday. B. Riley assumed coverage on shares of Range Resources in a report on Monday, February 5th. They set a “neutral” rating and a $16.00 price target for the company. ValuEngine cut shares of Range Resources from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Raymond James Financial reiterated an “underperform” rating on shares of Range Resources in a report on Monday, January 29th.
Shares of Range Resources (NYSE RRC) traded up $0.88 on Tuesday, reaching $14.65. 8,730,000 shares of the company traded hands, compared to its average volume of 11,110,000. Range Resources has a 1 year low of $11.93 and a 1 year high of $30.30. The stock has a market cap of $3,640.00, a P/E ratio of -732.50, a P/E/G ratio of 0.72 and a beta of 0.69. 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 announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.55%. Range Resources’s payout ratio is -400.00%.
In related news, Director Anthony V. Dub sold 2,897 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the completion of the sale, the director now owns 96,000 shares in the company, valued at approximately $1,541,760. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steffen E. Palko purchased 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $14.72 per share, with a total value of $500,480.00. Following the purchase, the director now owns 61,267 shares in the company, valued at $901,850.24. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 44,574 shares of company stock valued at $729,007. Company insiders own 2.40% of the company’s stock.
A number of large investors have recently modified their holdings of RRC. Mackenzie Financial Corp boosted its stake in Range Resources by 2,708.2% during the 4th quarter. Mackenzie Financial Corp now owns 3,057,252 shares of the oil and gas exploration company’s stock worth $52,157,000 after purchasing an additional 2,948,384 shares during the period. SailingStone Capital Partners LLC boosted its stake in Range Resources by 7.9% during the 4th quarter. SailingStone Capital Partners LLC now owns 35,832,571 shares of the oil and gas exploration company’s stock worth $611,304,000 after purchasing an additional 2,623,957 shares during the period. Point72 Asset Management L.P. acquired a new stake in Range Resources during the 3rd quarter worth $34,462,000. Guggenheim Capital LLC boosted its stake in Range Resources by 55.2% during the 4th quarter. Guggenheim Capital LLC now owns 3,579,421 shares of the oil and gas exploration company’s stock worth $61,063,000 after purchasing an additional 1,272,442 shares during the period. Finally, HBK Investments L P acquired a new stake in Range Resources during the 4th quarter worth $15,369,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.
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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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