Range Resources Corporation’s (RRC) “Underweight” Rating Reiterated at Barclays PLC

Range Resources Corporation (NYSE:RRC)‘s stock had its “underweight” rating restated by stock analysts at Barclays PLC in a research note issued on Wednesday, August 9th. They currently have a $18.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $20.00. Barclays PLC’s price objective points to a potential upside of 0.33% from the stock’s previous close.

RRC has been the subject of a number of other reports. Goldman Sachs Group, Inc. (The) lowered shares of Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 price target for the company. in a research report on Friday, June 2nd. Citigroup Inc. reduced 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 research report on Friday, July 21st. Zacks Investment Research upgraded 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 research report on Monday, July 17th. BidaskClub lowered shares of Range Resources Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Scotiabank restated a “buy” rating and set a $44.00 price target on shares of Range Resources Corporation in a research report on Friday, April 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $39.97.

Shares of Range Resources Corporation (RRC) traded up 2.75% during midday trading on Wednesday, reaching $17.94. The company had a trading volume of 6,681,694 shares. The company has a 50 day moving average price of $20.21 and a 200-day moving average price of $25.31. The firm has a market capitalization of $4.38 billion, a P/E ratio of 121.22 and a beta of 0.92. Range Resources Corporation has a one year low of $16.50 and a one year high of $43.60.

Range Resources Corporation (NYSE:RRC) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $565 million during the quarter, compared to analyst estimates of $544.08 million. During the same period in the previous year, the business earned ($1.35) EPS. Range Resources Corporation’s revenue was up 55.8% compared to the same quarter last year. On average, analysts anticipate that Range Resources Corporation will post $0.52 EPS for the current fiscal year.

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In related news, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $23.05, for a total transaction of $662,549.20. Following the transaction, the insider now owns 106,692 shares in the company, valued at $2,459,250.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James M. Funk purchased 4,000 shares of Range Resources Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were bought at an average price of $22.96 per share, for a total transaction of $91,840.00. Following the transaction, the director now directly owns 11,303 shares of the company’s stock, valued at $259,516.88. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 30,000 shares of company stock worth $541,640 and have sold 36,521 shares worth $842,742. 2.40% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Range Resources Corporation by 4.4% in the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after buying an additional 976,293 shares during the period. Sanders Capital LLC boosted its stake in shares of Range Resources Corporation by 6.7% in the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after buying an additional 932,706 shares during the period. BlackRock Inc. boosted its stake in shares of Range Resources Corporation by 6.8% in the second quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock worth $324,936,000 after buying an additional 890,348 shares during the period. State Street Corp boosted its stake in shares of Range Resources Corporation by 15.0% in the second quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after buying an additional 1,805,404 shares during the period. Finally, Stelliam Investment Management LP boosted its stake in shares of Range Resources Corporation by 21.9% in the first 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 buying an additional 1,027,500 shares during the period. Institutional investors and hedge funds own 95.13% 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.

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