Zacks Investment Research downgraded shares of Range Resources Corporation (NYSE:RRC) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “More than 60% of Range Resources reserves are tilted toward natural gas. Therefore, the company’s results are vulnerable to declining natural gas price. These factors may impact the value of estimated proved reserves that could lead the company’s lender to lower the borrowing base. Other risks such as cost inflation, project delays and regulatory filings continue to weigh on the stock. Additionally, Range Resources is governed by several stringent regulations, especially in the Marcellus Shale, the Appalachian Basin and the southwestern U.S., where it has a vast acreage. Over the last three months, the company’s shares have also underperformed the industry.”

Other analysts also recently issued reports about the company. Jefferies Group LLC set a $36.00 price target on Range Resources Corporation and gave the company a buy rating in a report on Tuesday, August 29th. Cowen and Company reiterated a buy rating and issued a $35.00 price target on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Citigroup Inc. lowered their price target on Range Resources Corporation from $34.00 to $30.00 and set a buy rating for the company in a report on Tuesday, August 15th. Stifel Nicolaus reiterated a buy rating and issued a $20.00 price target on shares of Range Resources Corporation in a report on Thursday, August 10th. Finally, BMO Capital Markets set a $35.00 price target on Range Resources Corporation and gave the company a buy rating in a report on Monday, June 26th. Four analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Range Resources Corporation currently has an average rating of Buy and a consensus price target of $33.89.

Range Resources Corporation (NYSE RRC) opened at 19.51 on Friday. Range Resources Corporation has a 12-month low of $16.00 and a 12-month high of $39.64. The company has a 50-day moving average price of $18.89 and a 200-day moving average price of $22.20. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 131.82 and a beta of 0.94.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period in the prior year, the firm earned ($1.35) EPS. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. On average, equities research analysts forecast that Range Resources Corporation will post $0.50 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.41%. Range Resources Corporation’s payout ratio is currently 100.01%.

In other news, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the purchase, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Ralph Lowe purchased 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the purchase, the director now directly owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Insiders acquired 26,000 shares of company stock worth $449,800 in the last 90 days. 0.42% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Sentry Investment Management LLC increased its stake in shares of Range Resources Corporation by 858.6% in the second quarter. Sentry Investment Management LLC now owns 135,628 shares of the oil and gas exploration company’s stock valued at $3,143,000 after purchasing an additional 121,479 shares during the period. Toronto Dominion Bank increased its stake in shares of Range Resources Corporation by 27.1% in the second quarter. Toronto Dominion Bank now owns 64,474 shares of the oil and gas exploration company’s stock valued at $1,493,000 after purchasing an additional 13,740 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Range Resources Corporation by 57.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,545 shares of the oil and gas exploration company’s stock valued at $615,000 after purchasing an additional 9,704 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Range Resources Corporation by 9.9% in the second quarter. Public Employees Retirement System of Ohio now owns 111,453 shares of the oil and gas exploration company’s stock valued at $2,582,000 after purchasing an additional 10,043 shares during the period. Finally, Kingfisher Capital LLC increased its stake in shares of Range Resources Corporation by 8.3% in the second quarter. Kingfisher Capital LLC now owns 42,769 shares of the oil and gas exploration company’s stock valued at $991,000 after purchasing an additional 3,292 shares during the period. Institutional investors own 95.19% of the company’s stock.

Range Resources Corporation 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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Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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