SunTrust Banks Trims Range Resources (RRC) Target Price to $12.00

Range Resources (NYSE:RRC) had its price target trimmed by SunTrust Banks to $12.00 in a research note released on Tuesday, The Fly reports. The brokerage currently has a hold rating on the oil and gas exploration company’s stock. SunTrust Banks also issued estimates for Range Resources’ Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $1.02 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.22 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.14 EPS, FY2019 earnings at $1.02 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.16 EPS, Q3 2020 earnings at $0.15 EPS, Q4 2020 earnings at $0.18 EPS and FY2020 earnings at $0.95 EPS.

Other research analysts also recently issued research reports about the stock. B. Riley set a $21.00 price objective on shares of Range Resources and gave the stock a buy rating in a research report on Friday, December 21st. Morgan Stanley set a $18.00 price objective on shares of Range Resources and gave the stock a sell rating in a research report on Friday, October 12th. Macquarie set a $18.00 price objective on shares of Range Resources and gave the stock a hold rating in a research report on Wednesday, September 26th. Guggenheim reiterated a buy rating and issued a $22.00 price objective on shares of Range Resources in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the stock a buy rating in a research report on Tuesday, October 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Range Resources has a consensus rating of Hold and an average price target of $20.21.

Shares of Range Resources stock opened at $11.50 on Tuesday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.65 and a beta of 0.96. Range Resources has a fifty-two week low of $9.22 and a fifty-two week high of $18.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $811.20 million during the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The company’s revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, sell-side analysts predict that Range Resources will post 0.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.70%. Range Resources’s dividend payout ratio (DPR) is presently 13.79%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama raised its position in shares of Range Resources by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 268,503 shares of the oil and gas exploration company’s stock worth $2,570,000 after purchasing an additional 933 shares during the last quarter. Palo Capital Inc. acquired a new stake in Range Resources in the 3rd quarter valued at about $198,000. ANTIPODES PARTNERS Ltd raised its holdings in Range Resources by 7.4% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 6,264,301 shares of the oil and gas exploration company’s stock valued at $106,430,000 after acquiring an additional 433,986 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Range Resources by 1,488.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 14,407 shares of the oil and gas exploration company’s stock valued at $848,000 after acquiring an additional 13,500 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new stake in Range Resources in the 3rd quarter valued at about $1,067,000.

About Range Resources

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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