Range Resources (NYSE:RRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC) to a sell rating in a report published on Tuesday morning.

Several other research analysts also recently weighed in on the stock. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Wolfe Research started coverage on shares of Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company lowered their target price on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. UBS Group reduced their price target on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group lowered their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus target price of $35.00.

Range Resources Stock Performance

Shares of RRC opened at $33.63 on Tuesday. The company has a 50-day moving average of $30.87 and a two-hundred day moving average of $32.65. The stock has a market cap of $8.12 billion, a P/E ratio of 16.98 and a beta of 1.80. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, research analysts predict that Range Resources will post 1.89 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insider Buying and Selling at Range Resources

In related news, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This represents a 27.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fifth Third Bancorp boosted its stake in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after acquiring an additional 350 shares in the last quarter. Commerce Bank boosted its stake in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the period. Inscription Capital LLC grew its position in Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after purchasing an additional 433 shares in the last quarter. Finally, Orser Capital Management LLC raised its stake in Range Resources by 1.0% during the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock valued at $1,661,000 after purchasing an additional 550 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.