Stifel Nicolaus Reiterates Buy Rating for Range Resources Corporation (RRC)

Stifel Nicolaus reaffirmed their buy rating on shares of Range Resources Corporation (NYSE:RRC) in a research note released on Thursday. They currently have a $20.00 price target on the oil and gas exploration company’s stock.

Several other equities analysts have also issued reports on RRC. Jefferies Group LLC reaffirmed a buy rating and set a $38.00 price objective on shares of Range Resources Corporation in a report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) lowered Range Resources Corporation from a conviction-buy rating to a buy rating and set a $42.50 price objective on the stock. in a report on Friday, June 2nd. ValuEngine lowered Range Resources Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. Royal Bank Of Canada set a $44.00 price objective on Range Resources Corporation and gave the stock a buy rating in a report on Saturday, June 3rd. Finally, BidaskClub raised Range Resources Corporation from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $38.33.

Shares of Range Resources Corporation (RRC) opened at 18.54 on Thursday. The firm has a market cap of $4.52 billion, a PE ratio of 125.27 and a beta of 0.94. Range Resources Corporation has a 12 month low of $15.99 and a 12 month high of $40.20. The firm’s 50-day moving average price is $17.96 and its 200-day moving average price is $23.43.

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, topping the consensus estimate of $0.08 by $0.20. The company had revenue of $565.00 million for the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The business’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.35) earnings per share. Analysts expect that Range Resources Corporation will post $0.51 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.43%. Range Resources Corporation’s payout ratio is 100.01%.

In related news, Director Mary Ralph Lowe purchased 10,000 shares of Range Resources Corporation stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $179,900.00. Following the transaction, the director now owns 25,413 shares in the company, valued at $457,179.87. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steffen E. Palko purchased 15,000 shares of Range Resources Corporation stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $16.81 per share, with a total value of $252,150.00. Following the completion of the transaction, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 26,000 shares of company stock valued at $449,800. Insiders own 0.42% of the company’s stock.

Several hedge funds have recently bought and sold shares of RRC. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Range Resources Corporation by 16.2% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,210 shares of the oil and gas exploration company’s stock valued at $471,000 after acquiring an additional 2,259 shares during the period. State Treasurer State of Michigan lifted its position in shares of Range Resources Corporation by 0.7% during the 1st quarter. State Treasurer State of Michigan now owns 61,807 shares of the oil and gas exploration company’s stock valued at $1,799,000 after acquiring an additional 400 shares during the period. First Trust Advisors LP lifted its position in shares of Range Resources Corporation by 52.9% during the 1st quarter. First Trust Advisors LP now owns 461,693 shares of the oil and gas exploration company’s stock valued at $13,435,000 after acquiring an additional 159,805 shares during the period. American Century Companies Inc. lifted its position in shares of Range Resources Corporation by 4.3% during the 1st quarter. American Century Companies Inc. now owns 627,015 shares of the oil and gas exploration company’s stock valued at $18,246,000 after acquiring an additional 25,613 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Range Resources Corporation by 133.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,069 shares of the oil and gas exploration company’s stock valued at $393,000 after acquiring an additional 7,481 shares during the period. Institutional investors own 95.51% 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.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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