Range Resources (RRC) Stock Price Up 9.6%

Shares of Range Resources Corp. (NYSE:RRC) rose 9.6% during trading on Monday . The stock traded as high as $10.42 and last traded at $10.35. Approximately 13,230,354 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 8,056,034 shares. The stock had previously closed at $9.44.

RRC has been the subject of several recent analyst reports. Zacks Investment Research cut Range Resources from a “hold” rating to a “sell” rating in a report on Friday, February 1st. TD Securities upgraded Range Resources from a “hold” rating to a “buy” rating and lowered their price target for the company from $19.00 to $15.00 in a report on Monday, January 7th. Bank of America cut Range Resources from a “neutral” rating to an “underperform” rating in a report on Friday, January 4th. Capital One Financial cut Range Resources from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Finally, Stephens initiated coverage on Range Resources in a report on Thursday, December 6th. They issued an “equal weight” rating and a $21.00 price target for the company. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $19.01.

The company has a market cap of $2.36 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Bank of New York Mellon Corp lifted its stake in shares of Range Resources by 34.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock valued at $42,184,000 after purchasing an additional 640,077 shares in the last quarter. United Services Automobile Association lifted its stake in shares of Range Resources by 235.7% in the 2nd quarter. United Services Automobile Association now owns 233,696 shares of the oil and gas exploration company’s stock valued at $3,910,000 after purchasing an additional 164,084 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Range Resources by 6,602.8% in the 3rd quarter. Bank of Montreal Can now owns 787,040 shares of the oil and gas exploration company’s stock valued at $13,372,000 after purchasing an additional 775,298 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Range Resources by 47.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock valued at $199,000 after purchasing an additional 3,750 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in shares of Range Resources by 42.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 62,107 shares of the oil and gas exploration company’s stock valued at $1,055,000 after purchasing an additional 18,433 shares in the last quarter.

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About Range Resources (NYSE:RRC)

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.

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