Morgan Stanley set a $4.00 price target on Range Resources (NYSE:RRC) in a report released on Monday, Stock Target Advisor reports. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.
Other equities analysts have also recently issued reports about the stock. Guggenheim set a $18.00 price objective on shares of Range Resources and gave the company a buy rating in a research note on Wednesday, April 10th. Zacks Investment Research raised shares of Range Resources from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. Credit Suisse Group set a $16.00 price objective on shares of Range Resources and gave the company a buy rating in a research note on Tuesday, February 26th. B. Riley set a $21.00 price objective on shares of Range Resources and gave the company a buy rating in a research note on Tuesday, February 26th. Finally, TheStreet cut shares of Range Resources from a c rating to a d rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $16.42.
Shares of RRC opened at $6.91 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.71 billion, a PE ratio of 6.12, a P/E/G ratio of 0.96 and a beta of 1.09. The firm has a fifty day moving average price of $7.86. Range Resources has a 1 year low of $6.43 and a 1 year high of $18.59.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $748.13 million for the quarter, compared to analysts’ expectations of $789.65 million. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. Range Resources’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. On average, sell-side analysts anticipate that Range Resources will post 0.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%. Range Resources’s dividend payout ratio (DPR) is presently 7.08%.
In related news, Director Steven D. Gray purchased 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $8.77 per share, with a total value of $175,400.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Scucchi purchased 11,100 shares of the stock in a transaction dated Tuesday, April 30th. The shares were bought at an average cost of $9.04 per share, for a total transaction of $100,344.00. Following the completion of the purchase, the chief financial officer now owns 3,068 shares in the company, valued at $27,734.72. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company’s stock.
Large investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new position in shares of Range Resources during the 4th quarter worth $25,000. Quadrant Capital Group LLC grew its stake in Range Resources by 667.8% in the 1st quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock valued at $25,000 after acquiring an additional 1,950 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Range Resources in the 1st quarter valued at about $105,000. AlphaCrest Capital Management LLC acquired a new stake in Range Resources in the 4th quarter valued at about $107,000. Finally, Stevens Capital Management LP acquired a new stake in Range Resources in the 4th quarter valued at about $114,000.
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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