Range Resources Corporation (RRC) Rating Reiterated by Scotiabank

Range Resources Corporation (NYSE:RRC)‘s stock had its “buy” rating reiterated by stock analysts at Scotiabank in a research note issued on Monday. They presently have a $30.00 target price on the oil and gas exploration company’s stock. Scotiabank’s price target indicates a potential upside of 52.98% from the stock’s previous close.

RRC has been the subject of several other reports. Robert W. Baird cut their price target on shares of Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Citigroup Inc. cut their price target on shares of Range Resources Corporation from $42.00 to $34.00 and set a “buy” rating for the company in a report on Friday, July 21st. Zacks Investment Research raised shares of Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Monday, July 17th. Jefferies Group LLC set a $36.00 price target on shares of Range Resources Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, BidaskClub downgraded shares of Range Resources Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $33.61.

Range Resources Corporation (RRC) opened at 19.61 on Monday. Range Resources Corporation has a 12 month low of $16.00 and a 12 month high of $39.92. The firm has a market capitalization of $4.79 billion, a P/E ratio of 132.50 and a beta of 0.94. The firm’s 50-day moving average is $18.75 and its 200 day moving average is $22.38.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The firm had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period last year, the firm earned ($1.35) EPS. The business’s quarterly revenue was up 55.8% compared to the same quarter last year. On average, analysts expect that Range Resources Corporation will post $0.50 EPS for the current fiscal year.

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In other Range Resources Corporation news, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the transaction, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Ralph Lowe bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the transaction, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 26,000 shares of company stock worth $449,800. Corporate insiders own 0.42% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Range Resources Corporation by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after purchasing an additional 976,293 shares during the period. Sanders Capital LLC raised its position in Range Resources Corporation by 6.7% in the 2nd quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after purchasing an additional 932,706 shares during the period. BlackRock Inc. raised its position in Range Resources Corporation by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock worth $324,936,000 after purchasing an additional 890,348 shares during the period. State Street Corp raised its position in Range Resources Corporation by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after purchasing an additional 1,805,404 shares during the period. Finally, Stelliam Investment Management LP raised its position in Range Resources Corporation by 21.9% in the 1st quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock worth $166,525,000 after purchasing an additional 1,027,500 shares during the period. Institutional investors own 95.61% of the company’s stock.

About Range Resources Corporation

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.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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