Shares of Range Resources Corp. (NYSE:RRC) rose 10.5% during trading on Monday . The company traded as high as $4.54 and last traded at $4.53, approximately 11,688,955 shares were traded during mid-day trading. An increase of 34% from the average daily volume of 8,730,771 shares. The stock had previously closed at $4.10.
RRC has been the subject of a number of research analyst reports. Morgan Stanley set a $4.00 price target on Range Resources and gave the stock a “sell” rating in a research note on Monday, June 24th. TD Securities dropped their price target on Range Resources from $7.50 to $5.50 and set a “hold” rating for the company in a research note on Friday, July 26th. Susquehanna Bancshares dropped their price target on Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday, July 29th. Jefferies Financial Group lowered Range Resources from a “buy” rating to a “hold” rating and dropped their price target for the stock from $17.00 to $7.00 in a research note on Monday, July 15th. Finally, MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.95.
The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70. The firm has a market cap of $1.01 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 2.71 and a beta of 0.94. The firm has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $8.41.
Range Resources (NYSE:RRC) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The business had revenue of $851.43 million during the quarter, compared to analyst estimates of $672.93 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts forecast that Range Resources Corp. will post 0.44 earnings per share for the current fiscal year.
In related news, CFO Mark Scucchi purchased 9,483 shares of Range Resources stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $5.27 per share, for a total transaction of $49,975.41. Following the completion of the acquisition, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at $74,565.23. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David P. Poole sold 5,843 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $5.69, for a total value of $33,246.67. Following the transaction, the vice president now owns 58,196 shares of the company’s stock, valued at $331,135.24. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Dimensional Fund Advisors LP increased its stake in Range Resources by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,655,071 shares of the oil and gas exploration company’s stock valued at $92,401,000 after purchasing an additional 461,780 shares in the last quarter. Norges Bank bought a new stake in Range Resources in the fourth quarter valued at approximately $19,595,000. Geode Capital Management LLC increased its stake in Range Resources by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 2,001,135 shares of the oil and gas exploration company’s stock valued at $19,150,000 after purchasing an additional 58,751 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Range Resources in the first quarter valued at approximately $105,000. Finally, Retirement Systems of Alabama increased its stake in Range Resources by 0.7% in the first quarter. Retirement Systems of Alabama now owns 270,288 shares of the oil and gas exploration company’s stock valued at $3,038,000 after purchasing an additional 1,785 shares in the last quarter.
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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