Seaport Global Securities downgraded shares of Range Resources (NYSE:RRC) from a buy rating to a neutral rating in a report released on Tuesday.

RRC has been the subject of several other research reports. Morgan Stanley cut Range Resources from an equal weight rating to an underweight rating and set a $11.00 target price for the company. in a research note on Wednesday, January 24th. Bank of America cut Range Resources from a buy rating to a neutral rating in a research note on Thursday, January 4th. Cowen set a $25.00 target price on Range Resources and gave the stock a buy rating in a research note on Thursday, January 18th. Piper Jaffray set a $28.00 target price on Range Resources and gave the stock a buy rating in a research note on Wednesday, March 14th. Finally, UBS initiated coverage on Range Resources in a research note on Wednesday, March 7th. They set a buy rating and a $18.50 target price for the company. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $22.22.

Shares of RRC opened at $13.43 on Tuesday. Range Resources has a 1 year low of $11.93 and a 1 year high of $28.76. The company has a quick ratio of 0.54, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3,402.50, a PE ratio of 11.04, a P/E/G ratio of 0.55 and a beta of 0.55.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. Range Resources had a return on equity of 5.42% and a net margin of 12.76%. The company had revenue of $679.00 million during the quarter, compared to the consensus estimate of $659.71 million. During the same period last year, the company earned $0.23 earnings per share. The firm’s revenue was up 167.9% compared to the same quarter last year. research analysts anticipate that Range Resources will post 1.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.02 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.60%. Range Resources’s dividend payout ratio (DPR) is presently 13.79%.

In related news, Director Steffen E. Palko bought 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were bought at an average price of $14.72 per share, with a total value of $500,480.00. Following the completion of the transaction, the director now directly owns 61,267 shares in the company, valued at $901,850.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Several large investors have recently made changes to their positions in RRC. MHI Funds LLC purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $122,000. Jolley Asset Management LLC purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $125,000. Koch Industries Inc. purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $187,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $192,000. Finally, FDx Advisors Inc. purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $222,000. 97.95% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Range Resources (NYSE:RRC)

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