Barclays Reaffirms Buy Rating for Range Resources (RRC)

Barclays restated their buy rating on shares of Range Resources (NYSE:RRC) in a report released on Sunday morning. They currently have a $19.00 price objective on the oil and gas exploration company’s stock.

Several other brokerages have also recently weighed in on RRC. Stifel Nicolaus set a $21.00 price objective on shares of Range Resources and gave the stock a buy rating in a research note on Thursday, October 5th. Zacks Investment Research cut shares of Range Resources from a hold rating to a sell rating in a research note on Friday, October 13th. Jefferies Group reiterated a buy rating and issued a $25.00 price objective on shares of Range Resources in a research note on Tuesday, October 10th. Scotiabank reiterated a buy rating and issued a $30.00 price objective on shares of Range Resources in a research note on Monday, October 9th. Finally, BMO Capital Markets set a $30.00 price objective on shares of Range Resources and gave the stock a buy rating in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $30.02.

Shares of Range Resources (NYSE:RRC) opened at $16.99 on Friday. Range Resources has a 12 month low of $15.33 and a 12 month high of $36.40. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4,150.00, a PE ratio of -80.90 and a beta of 0.91.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The business had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The business’s revenue was up 16.7% on a year-over-year basis. equities analysts expect that Range Resources will post 0.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, December 14th. Range Resources’s payout ratio is presently -38.10%.

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 completion of the transaction, the director now directly owns 96,000 shares in the company, valued at approximately $1,541,760. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Roger S. Manny sold 10,757 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total transaction of $176,629.94. Following the transaction, the chief financial officer now owns 143,703 shares of the company’s stock, valued at $2,359,603.26. The disclosure for this sale can be found here. Insiders sold a total of 44,574 shares of company stock valued at $729,007 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its position in Range Resources by 26.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after purchasing an additional 990 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Range Resources by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after acquiring an additional 64 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. grew its holdings in Range Resources by 166.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock worth $141,000 after acquiring an additional 3,801 shares during the last quarter. Stephens Inc. AR grew its holdings in Range Resources by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after acquiring an additional 412 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in Range Resources by 240.4% during the 2nd quarter. Westwood Holdings Group Inc. now owns 8,850 shares of the oil and gas exploration company’s stock worth $205,000 after acquiring an additional 6,250 shares during the last quarter. Institutional investors and hedge funds own 95.28% of the company’s stock.

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About Range Resources

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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