Range Resources Corporation (NYSE:RRC) was upgraded by Barclays PLC from an “underweight” rating to an “overweight” rating in a report issued on Wednesday. The brokerage currently has a $24.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $18.00. Barclays PLC’s price target indicates a potential upside of 22.39% from the stock’s current price.
A number of other research analysts have also commented on RRC. Robert W. Baird cut their target price on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, August 11th. Stifel Nicolaus set a $21.00 price target on Range Resources Corporation and gave the company a “buy” rating in a research report on Thursday, October 5th. Scotiabank set a $35.00 price target on Range Resources Corporation and gave the company a “buy” rating in a research report on Saturday, July 1st. Citigroup Inc. lowered their price target on Range Resources Corporation from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Finally, Vetr upgraded Range Resources Corporation from a “buy” rating to a “strong-buy” rating and set a $22.02 price target on the stock in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.61.
Range Resources Corporation (NYSE:RRC) traded up 0.6757% during trading on Wednesday, reaching $19.7425. 3,034,909 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $18.75 and its 200-day moving average price is $22.38. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 151.8654 and a beta of 0.95. Range Resources Corporation has a 52-week low of $16.00 and a 52-week high of $39.92.
Range Resources Corporation (NYSE:RRC) last issued its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. The business had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. Range Resources Corporation’s revenue was up 55.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.35) earnings per share. Equities analysts expect that Range Resources Corporation will post $0.50 earnings per share for the current year.
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In other news, Director Mary Ralph Lowe purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now directly owns 25,413 shares in the company, valued at $457,179.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steffen E. Palko purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 26,000 shares of company stock worth $449,800. 0.42% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Sentry Investment Management LLC boosted its holdings in Range Resources Corporation by 858.6% in the second quarter. Sentry Investment Management LLC now owns 135,628 shares of the oil and gas exploration company’s stock valued at $3,143,000 after acquiring an additional 121,479 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Range Resources Corporation by 27.1% in the second quarter. Toronto Dominion Bank now owns 64,474 shares of the oil and gas exploration company’s stock valued at $1,493,000 after acquiring an additional 13,740 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Range Resources Corporation by 57.6% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,545 shares of the oil and gas exploration company’s stock valued at $615,000 after acquiring an additional 9,704 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Range Resources Corporation by 9.9% in the second quarter. Public Employees Retirement System of Ohio now owns 111,453 shares of the oil and gas exploration company’s stock valued at $2,582,000 after acquiring an additional 10,043 shares during the last quarter. Finally, Kingfisher Capital LLC boosted its holdings in Range Resources Corporation by 8.3% in the second quarter. Kingfisher Capital LLC now owns 42,769 shares of the oil and gas exploration company’s stock valued at $991,000 after acquiring an additional 3,292 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.
Range Resources Corporation Company Profile
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.
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