Range Resources Corporation (RRC) Rating Reiterated by Scotiabank

Scotiabank restated their buy rating on shares of Range Resources Corporation (NYSE:RRC) in a research note released on Monday. They currently have a $30.00 price target on the oil and gas exploration company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup Inc. lowered their price objective on shares of Range Resources Corporation from $34.00 to $30.00 and set a buy rating for the company in a research report on Tuesday, August 15th. BMO Capital Markets set a $35.00 price objective on shares of Range Resources Corporation and gave the company a buy rating in a research report on Monday, June 26th. Zacks Investment Research raised shares of Range Resources Corporation from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a buy rating and issued a $20.00 price objective on shares of Range Resources Corporation in a research report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a buy rating and issued a $35.00 price objective on shares of Range Resources Corporation in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $33.89.

Range Resources Corporation (RRC) opened at 19.93 on Monday. The company has a 50-day moving average of $18.85 and a 200-day moving average of $22.35. Range Resources Corporation has a 52 week low of $16.00 and a 52 week high of $39.64. The stock has a market cap of $4.86 billion, a P/E ratio of 134.66 and a beta of 0.95.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) 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 company had revenue of $565.00 million during the quarter, compared to the consensus estimate of $544.08 million. During the same quarter last year, the company earned ($1.35) earnings per share. Range Resources Corporation’s revenue for the quarter was up 55.8% on a year-over-year basis. On average, analysts predict that Range Resources Corporation will post $0.50 EPS for the current fiscal year.

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

In related news, Director Mary Ralph Lowe bought 10,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the purchase, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steffen E. Palko bought 15,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the purchase, the director now directly owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders acquired 26,000 shares of company stock worth $449,800 over the last quarter. 2.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of RRC. Smithfield Trust Co. lifted its stake in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock valued at $107,000 after buying an additional 3,840 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in Range Resources Corporation by 26.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock valued at $110,000 after buying an additional 990 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Range Resources Corporation by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after buying an additional 64 shares during the last quarter. Financial Architects Inc lifted its stake in Range Resources Corporation by 24.5% in the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock valued at $141,000 after buying an additional 1,200 shares during the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. increased its holdings in shares of Range Resources Corporation by 166.2% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock valued at $141,000 after purchasing an additional 3,801 shares during the period. Institutional investors own 95.61% 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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