KeyCorp Reaffirms Hold Rating for Range Resources (RRC)

KeyCorp reiterated their hold rating on shares of Range Resources (NYSE:RRC) in a research report released on Monday, November 13th.

Several other equities analysts have also recently commented on RRC. Robert W. Baird lowered their target price on shares of Range Resources from $29.00 to $22.00 and set a neutral rating on the stock in a research note on Friday, August 11th. Barclays reaffirmed an underweight rating and issued a $18.00 price objective (down previously from $20.00) on shares of Range Resources in a research note on Wednesday, August 9th. Stifel Nicolaus reaffirmed a buy rating and issued a $20.00 price objective on shares of Range Resources in a research note on Thursday, August 10th. Citigroup dropped their target price on shares of Range Resources from $34.00 to $30.00 and set a buy rating on the stock in a research report on Tuesday, August 15th. Finally, Cowen reissued a buy rating and issued a $35.00 target price on shares of Range Resources in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $31.76.

Range Resources (NYSE RRC) traded up $0.48 during trading on Monday, hitting $18.50. 6,942,205 shares of the stock were exchanged, compared to its average volume of 6,087,611. The company has a market cap of $4,471.47, a P/E ratio of 50.06 and a beta of 0.91. Range Resources has a one year low of $15.99 and a one year high of $39.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.47 and a current ratio of 0.50.

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, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $482.20 million for the quarter, compared to the consensus estimate of $543.16 million. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. Range Resources’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) EPS. equities analysts expect that Range Resources will post 0.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.43%. Range Resources’s dividend payout ratio (DPR) is currently -38.09%.

Hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board increased its position in Range Resources by 18.7% during the second 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 acquiring an additional 33,130 shares during the period. Matthew 25 Management Corp increased its holdings in Range Resources 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 valued at $1,854,000 after buying an additional 50,000 shares during the period. JPMorgan Chase & Co. increased its holdings in Range Resources 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 valued at $63,163,000 after buying an additional 194,141 shares during the period. Rovida Advisors Inc. bought a new stake in Range Resources in the 2nd quarter valued at $4,634,000. Finally, Harvey Capital Management Inc. increased its holdings in Range Resources by 109.9% in the 2nd quarter. Harvey Capital Management Inc. now owns 107,690 shares of the oil and gas exploration company’s stock valued at $2,495,000 after buying an additional 56,395 shares during the period. 95.72% of the stock is currently owned by institutional investors and hedge funds.

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Range Resources 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.

Analyst Recommendations for Range Resources (NYSE:RRC)

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