Range Resources Corporation (RRC) Given Consensus Recommendation of “Buy” by Brokerages
Range Resources Corporation (NYSE:RRC) has been assigned an average recommendation of “Buy” from the twenty-eight research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $39.88.
Several equities analysts have recently issued reports on RRC shares. BidaskClub raised Range Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 price objective on Range Resources Corporation and gave the company a “buy” rating in a report on Saturday, June 3rd. Evercore ISI raised Range Resources Corporation to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, April 19th. Piper Jaffray Companies reissued an “overweight” rating and issued a $49.00 price objective on shares of Range Resources Corporation in a report on Thursday, April 27th. Finally, Wells Fargo & Company raised Range Resources Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, April 27th.
In other news, COO Ray N. Walker, Jr. sold 7,200 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $23.17, for a total value of $166,824.00. Following the completion of the sale, the chief operating officer now directly owns 63,861 shares in the company, valued at $1,479,659.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $16.81 per share, with a total value of $252,150.00. Following the completion of the transaction, the director now directly owns 27,267 shares of the company’s stock, valued at $458,358.27. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 30,000 shares of company stock valued at $541,640 and sold 36,521 shares valued at $842,742. 2.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of RRC. Bartlett & Co. LLC raised its stake in Range Resources Corporation by 43.0% in the first quarter. Bartlett & Co. LLC now owns 3,475 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 1,045 shares during the period. Smithfield Trust Co. raised its stake in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock worth $109,000 after buying an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock worth $119,000 after buying an additional 31 shares during the period. Finally, Financial Architects Inc raised its stake in Range Resources Corporation by 24.5% in the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 93.84% of the company’s stock.
Shares of Range Resources Corporation (NYSE RRC) traded down 0.65% during mid-day trading on Friday, reaching $16.81. The company’s stock had a trading volume of 6,461,280 shares. The firm has a market cap of $4.10 billion, a P/E ratio of 113.58 and a beta of 0.92. Range Resources Corporation has a 12-month low of $16.50 and a 12-month high of $43.60. The firm’s 50-day moving average price is $21.11 and its 200 day moving average price is $26.03.
Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The business had revenue of $565 million during the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.35) EPS. On average, analysts expect that Range Resources Corporation will post $0.54 EPS for the current year.
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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