Bank of America cut shares of Range Resources (NYSE:RRC) from a buy rating to a neutral rating in a research note published on Thursday, January 4th, Marketbeat.com reports.
Several other equities analysts have also issued reports on the company. Barclays reissued a buy rating and issued a $19.00 price target on shares of Range Resources in a research note on Sunday, December 24th. Credit Suisse Group began coverage on Range Resources in a research note on Monday, December 11th. They issued an outperform rating and a $24.00 price target on the stock. SunTrust Banks reaffirmed a hold rating and set a $20.00 target price on shares of Range Resources in a research report on Friday, December 8th. ValuEngine raised Range Resources from a sell rating to a hold rating in a research report on Friday, December 1st. Finally, Scotiabank set a $27.00 target price on Range Resources and gave the stock a buy rating in a research report on Saturday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $30.02.
Range Resources (NYSE RRC) traded up $0.31 during trading on Thursday, hitting $17.58. The company had a trading volume of 6,656,100 shares, compared to its average volume of 8,066,589. 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 firm has a market capitalization of $4,360.00, a price-to-earnings ratio of -83.71 and a beta of 0.91. Range Resources has a one year low of $15.33 and a one year high of $36.40.
Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The firm had revenue of $482.20 million for the quarter, compared to analyst estimates of $543.16 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue was up 16.7% compared to the same quarter last year. analysts predict that Range Resources will post 0.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.46%. Range Resources’s dividend payout ratio (DPR) is presently -38.10%.
In other Range Resources news, CFO Roger S. Manny sold 10,757 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total value of $176,629.94. Following the completion of the transaction, the chief financial officer now owns 143,703 shares in the company, valued at approximately $2,359,603.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony V. Dub sold 2,897 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total value of $46,525.82. Following the transaction, the director now directly owns 96,000 shares in the company, valued at approximately $1,541,760. The disclosure for this sale can be found here. Insiders sold a total of 44,574 shares of company stock valued at $729,007 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of Range Resources by 26.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 990 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Range Resources by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after purchasing an additional 64 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. lifted its holdings in Range Resources by 166.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock worth $141,000 after purchasing an additional 3,801 shares in the last quarter. Stephens Inc. AR lifted its holdings in Range Resources by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after purchasing an additional 412 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Range Resources by 240.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after purchasing an additional 6,250 shares in the last quarter.
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About Range Resources
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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