Range Resources (RRC) Stock Price Up -3.7%

Range Resources Corp. (NYSE:RRC) shares rose 3.7% on Wednesday . The stock traded as high as $13.86 and last traded at $13.28. Approximately 6,324,181 shares traded hands during trading, a decline of 39% from the average daily volume of 10,442,077 shares. The stock had previously closed at $13.79.

RRC has been the topic of several recent analyst reports. Bank of America lowered shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, January 4th. Barclays restated a “buy” rating and set a $19.00 target price on shares of Range Resources in a research report on Sunday, December 24th. Morgan Stanley lowered shares of Range Resources from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Wednesday, January 24th. Credit Suisse Group initiated coverage on shares of Range Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Range Resources currently has an average rating of “Hold” and an average target price of $25.59.

The stock has a market cap of $3,255.59, a price-to-earnings ratio of -59.19, a PEG ratio of 0.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50.

In related news, Director Anthony V. Dub sold 2,897 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total transaction of $46,525.82. Following the transaction, the director now owns 96,000 shares of the company’s stock, valued at $1,541,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Roger S. Manny sold 10,757 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total transaction of $176,629.94. Following the transaction, the chief financial officer now directly owns 143,703 shares in the company, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. Insiders have sold 44,574 shares of company stock worth $729,007 in the last three months. Insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RRC. GSA Capital Partners LLP purchased a new position in shares of Range Resources during the second quarter valued at approximately $265,000. California Public Employees Retirement System raised its stake in Range Resources by 2.2% during the second quarter. California Public Employees Retirement System now owns 333,062 shares of the oil and gas exploration company’s stock worth $7,717,000 after purchasing an additional 7,200 shares during the period. Dimensional Fund Advisors LP raised its stake in Range Resources by 72.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock worth $53,825,000 after purchasing an additional 973,814 shares during the period. Voya Investment Management LLC raised its stake in Range Resources by 2.3% during the second quarter. Voya Investment Management LLC now owns 160,164 shares of the oil and gas exploration company’s stock worth $3,711,000 after purchasing an additional 3,587 shares during the period. Finally, Stifel Financial Corp raised its stake in Range Resources by 10.2% during the second quarter. Stifel Financial Corp now owns 41,283 shares of the oil and gas exploration company’s stock worth $954,000 after purchasing an additional 3,837 shares during the period. 95.71% of the stock is currently owned by institutional investors and hedge funds.

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Range Resources 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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