Range Resources (NYSE:RRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC) to a sell rating in a research report report published on Wednesday morning.

Other research analysts have also issued reports about the stock. Mizuho cut their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group cut their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Bank of America started coverage on Range Resources in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price for the company. Finally, Morgan Stanley cut their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average target price of $35.00.

Range Resources Stock Up 0.4 %

Shares of NYSE RRC opened at $35.74 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $32.08 and a 200-day moving average of $32.57. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 18.05 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Sell-side analysts expect that Range Resources will post 1.9 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently modified their holdings of RRC. Fifth Third Bancorp lifted its holdings in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the period. M&T Bank Corp raised its position in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares during the period. Commerce Bank lifted its stake in shares of Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the period. Finally, Inscription Capital LLC boosted its position in shares of Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.