Range Resources Corp. (NYSE:RRC) reached a new 52-week low during trading on Monday . The company traded as low as $8.45 and last traded at $8.48, with a volume of 194902 shares trading hands. The stock had previously closed at $8.76.
A number of research firms have recently commented on RRC. Jefferies Financial Group reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Range Resources in a research note on Wednesday, January 30th. Morgan Stanley set a $11.00 price objective on shares of Range Resources and gave the company a “sell” rating in a research note on Tuesday, January 29th. Zacks Investment Research lowered shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Cowen began coverage on shares of Range Resources in a research note on Tuesday, April 9th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, TheStreet lowered shares of Range Resources from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.15.
The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.54 and a current ratio of 0.58. The stock has a market cap of $2.20 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.58 and a beta of 1.07.
Range Resources (NYSE:RRC) last released its earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The company had revenue of $748.13 million for the quarter, compared to the consensus estimate of $789.65 million. During the same quarter in the previous year, the company earned $0.46 EPS. Range Resources’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that Range Resources Corp. will post 0.64 earnings per share for the current year.
In other Range Resources news, CFO Mark Scucchi acquired 11,100 shares of the stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $9.04 per share, for a total transaction of $100,344.00. Following the completion of the acquisition, the chief financial officer now owns 3,068 shares in the company, valued at approximately $27,734.72. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven D. Gray acquired 20,000 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $10.95 per share, for a total transaction of $219,000.00. Following the acquisition, the director now owns 7,804 shares of the company’s stock, valued at approximately $85,453.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 61,100 shares of company stock worth $592,744 in the last quarter. 0.35% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wesbanco Bank Inc. raised its holdings in Range Resources by 5.6% during the fourth quarter. Wesbanco Bank Inc. now owns 18,908 shares of the oil and gas exploration company’s stock worth $181,000 after buying an additional 1,000 shares during the last quarter. Virginia Retirement Systems ET AL raised its holdings in shares of Range Resources by 3.0% in the fourth quarter. Virginia Retirement Systems ET AL now owns 44,600 shares of the oil and gas exploration company’s stock valued at $427,000 after purchasing an additional 1,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Range Resources by 2.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 51,367 shares of the oil and gas exploration company’s stock valued at $577,000 after purchasing an additional 1,367 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Range Resources by 1.1% in the fourth quarter. Arizona State Retirement System now owns 148,636 shares of the oil and gas exploration company’s stock valued at $1,422,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Range Resources by 11.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,756 shares of the oil and gas exploration company’s stock valued at $160,000 after purchasing an additional 1,659 shares during the last quarter.
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Range Resources Company Profile (NYSE:RRC)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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