Range Resources Corporation (RRC) Shares Down 3.4%

Range Resources Corporation (NYSE:RRC) traded down 3.4% on Tuesday . The stock traded as low as $17.28 and last traded at $18.58. 5,595,600 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 5,882,217 shares. The stock had previously closed at $19.23.

Several equities research analysts have weighed in on the company. BMO Capital Markets reissued a “buy” rating and issued a $30.00 price target on shares of Range Resources Corporation in a report on Tuesday. KeyCorp reissued a “hold” rating on shares of Range Resources Corporation in a report on Monday. Robert W. Baird lowered their price target on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Barclays PLC reissued an “underweight” rating and issued a $18.00 price target (down previously from $20.00) on shares of Range Resources Corporation in a report on Wednesday, August 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Range Resources Corporation in a report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Range Resources Corporation presently has a consensus rating of “Buy” and a consensus target price of $31.89.

The firm has a market capitalization of $4,570.00, a PE ratio of 53.42 and a beta of 0.91. 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 Corporation (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. The business had revenue of $482.20 million during the quarter, compared to analysts’ expectations 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 was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. sell-side analysts anticipate that Range Resources Corporation will post 0.47 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its position in shares of 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 in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Range Resources Corporation by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 100 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Range Resources Corporation by 0.3% during the second quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock worth $2,114,000 after purchasing an additional 305 shares in the last quarter. M&T Bank Corp increased its position in shares of Range Resources Corporation by 1.3% during the second quarter. M&T Bank Corp now owns 27,472 shares of the oil and gas exploration company’s stock worth $639,000 after purchasing an additional 360 shares in the last quarter. Finally, Stephens Inc. AR increased its position in shares of Range Resources Corporation by 5.6% during the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after purchasing an additional 412 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

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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.

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