Range Resources Corp. (NYSE:RRC) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 74,360,000 shares, a decrease of 10.8% from the December 15th total of 83,400,000 shares. Currently, 29.9% of the company’s stock are short sold. Based on an average daily trading volume, of 11,060,000 shares, the short-interest ratio is currently 6.7 days.
NYSE:RRC traded up $0.05 during trading hours on Tuesday, reaching $4.60. 11,434,800 shares of the company were exchanged, compared to its average volume of 12,315,277. The company has a market capitalization of $1.16 billion, a P/E ratio of 4.07 and a beta of 1.08. Range Resources has a 1-year low of $3.26 and a 1-year high of $12.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.69. The business has a 50 day moving average of $4.34 and a 200 day moving average of $4.48.
Range Resources (NYSE:RRC) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.03. The business had revenue of $622.45 million during the quarter, compared to the consensus estimate of $594.94 million. Range Resources had a positive return on equity of 3.14% and a negative net margin of 50.85%. Range Resources’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, equities research analysts anticipate that Range Resources will post 0.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.08 annualized dividend and a dividend yield of 1.74%. Range Resources’s dividend payout ratio is currently 7.08%.
Large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its stake in Range Resources by 19.9% during the second quarter. Schroder Investment Management Group now owns 1,848,704 shares of the oil and gas exploration company’s stock worth $12,904,000 after acquiring an additional 306,656 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Range Resources by 4.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,386,433 shares of the oil and gas exploration company’s stock valued at $9,678,000 after buying an additional 60,865 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Range Resources in the second quarter valued at about $69,000. Bank of New York Mellon Corp raised its position in shares of Range Resources by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 2,471,709 shares of the oil and gas exploration company’s stock worth $17,252,000 after acquiring an additional 125,685 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Range Resources during the second quarter worth about $23,468,000.
Several equities research analysts have recently commented on RRC shares. Credit Suisse Group downgraded Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. Scotiabank downgraded shares of Range Resources from an “outperform” rating to a “sector perform” rating and set a $5.00 target price on the stock. in a report on Friday, December 6th. Citigroup lowered shares of Range Resources from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $6.00 to $5.00 in a research report on Monday. They noted that the move was a valuation call. ValuEngine upgraded shares of Range Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Bank of America decreased their price objective on shares of Range Resources from $8.00 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.18.
Range Resources Company Profile
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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