Range Resources’ (RRC) Sector Perform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their sector perform rating on shares of Range Resources (NYSE:RRC) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $45.00 target price on the oil and gas exploration company’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley set a $41.00 price target on Range Resources in a research note on Tuesday, April 15th. Susquehanna reduced their price target on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Mizuho upped their price target on Range Resources from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 13th. Raymond James Financial increased their price target on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Finally, Barclays increased their price objective on Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $42.79.

Range Resources Trading Up 1.0%

RRC opened at $38.21 on Tuesday. The stock has a market capitalization of $9.13 billion, a PE ratio of 34.11, a P/E/G ratio of 0.31 and a beta of 0.63. The firm’s fifty day moving average price is $39.59 and its 200 day moving average price is $38.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources has a 12-month low of $27.29 and a 12-month high of $43.50.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date was Friday, June 13th. Range Resources’s payout ratio is 32.14%.

Insider Activity at Range Resources

In other news, VP Ashley Kavanaugh sold 12,880 shares of Range Resources stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the sale, the vice president owned 1,723 shares of the company’s stock, valued at approximately $67,197. The trade was a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the sale, the chief executive officer directly owned 58,431 shares in the company, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,080 shares of company stock worth $2,984,479. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RRC. Fuller & Thaler Asset Management Inc. increased its stake in Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after acquiring an additional 2,104,304 shares during the period. Wellington Management Group LLP acquired a new stake in Range Resources in the fourth quarter worth $33,684,000. King Luther Capital Management Corp raised its holdings in Range Resources by 2,522.3% in the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock worth $32,888,000 after purchasing an additional 792,240 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after acquiring an additional 624,955 shares during the period. Finally, Northern Trust Corp grew its position in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after purchasing an additional 605,315 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.