BMO Capital Markets Analysts Give Range Resources Corporation (RRC) a $30.00 Price Target

BMO Capital Markets set a $30.00 target price on Range Resources Corporation (NYSE:RRC) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Several other equities analysts have also weighed in on RRC. BidaskClub upgraded shares of Range Resources Corporation from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Scotiabank set a $35.00 price objective on shares of Range Resources Corporation and gave the company a buy rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of Range Resources Corporation from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Monday, July 17th. Citigroup Inc. cut their price objective on shares of Range Resources Corporation from $42.00 to $34.00 and set a buy rating on the stock in a report on Friday, July 21st. Finally, Barclays PLC lowered their target price on shares of Range Resources Corporation from $20.00 to $18.00 and set an underweight rating for the company in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation presently has a consensus rating of Buy and a consensus price target of $33.89.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share 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 business had revenue of $565.00 million for the quarter, compared to analyst estimates of $544.08 million. During the same period in the prior year, the business posted ($1.35) earnings per share. Range Resources Corporation’s revenue was up 55.8% compared to the same quarter last year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.40%. Range Resources Corporation’s dividend payout ratio (DPR) is currently 100.01%.

In other news, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the transaction, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Ralph Lowe purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the transaction, the director now directly owns 25,413 shares in the company, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Insiders bought a total of 26,000 shares of company stock worth $449,800 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wisconsin Investment Board lifted its position in shares of Range Resources Corporation by 18.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 210,607 shares of the oil and gas exploration company’s stock worth $4,880,000 after purchasing an additional 33,130 shares during the period. Matthew 25 Management Corp lifted its position in shares of Range Resources Corporation by 166.7% in the 2nd quarter. Matthew 25 Management Corp now owns 80,000 shares of the oil and gas exploration company’s stock worth $1,854,000 after purchasing an additional 50,000 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Range Resources Corporation by 7.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,726,118 shares of the oil and gas exploration company’s stock worth $63,163,000 after purchasing an additional 194,141 shares during the period. Rovida Advisors Inc. acquired a new position in shares of Range Resources Corporation in the 2nd quarter worth approximately $4,634,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Range Resources Corporation in the 1st quarter worth approximately $440,000. Hedge funds and other institutional investors 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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