KeyCorp Reaffirms Hold Rating for Range Resources Corporation (RRC)

KeyCorp reaffirmed their hold rating on shares of Range Resources Corporation (NYSE:RRC) in a report issued on Monday.

RRC has been the subject of a number of other research reports. Robert W. Baird reduced their price objective on Range Resources Corporation from $29.00 to $22.00 and set a neutral rating for the company in a research note on Friday, August 11th. Citigroup Inc. reduced their price objective on Range Resources Corporation from $42.00 to $34.00 and set a buy rating for the company in a research note on Friday, July 21st. Morgan Stanley reduced their price objective on Range Resources Corporation from $19.00 to $18.00 and set an equal weight rating for the company in a research note on Thursday, October 26th. Zacks Investment Research upgraded Range Resources Corporation from a hold rating to a buy rating and set a $25.00 price objective for the company in a research note on Monday, July 17th. Finally, Jefferies Group LLC set a $36.00 price objective on Range Resources Corporation and gave the company a buy rating in a research note on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $31.89.

Shares of Range Resources Corporation (NYSE:RRC) opened at $17.20 on Monday. Range Resources Corporation has a 1-year low of $15.99 and a 1-year high of $39.64. The stock has a market capitalization of $4,270.00, a price-to-earnings ratio of 48.19 and a beta of 0.91. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $482.20 million during the quarter, compared to the consensus estimate of $543.16 million. Range Resources Corporation had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. analysts forecast that Range Resources Corporation will post 0.47 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Smithfield Trust Co. increased its stake in Range Resources Corporation by 480.0% in the 2nd quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after acquiring an additional 3,840 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Range Resources Corporation by 26.4% in 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 acquiring an additional 990 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Range Resources Corporation by 1.3% in 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. increased its stake in Range Resources Corporation by 166.2% in 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. Finally, Financial Architects Inc increased its stake in Range Resources Corporation by 24.5% in the 2nd quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 95.81% 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.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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