Range Resources (NYSE:RRC) Stock Rating Upgraded by StockNews.com

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

A number of other research firms have also recently issued reports on RRC. UBS Group decreased their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Susquehanna decreased their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group cut their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

Range Resources Stock Down 1.9 %

Shares of NYSE RRC opened at $35.59 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The stock has a market capitalization of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80. The stock’s fifty day moving average is $31.87 and its 200 day moving average is $32.53.

Range Resources (NYSE:RRC) last released 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that Range Resources will post 1.88 earnings per share 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 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Insider Buying and Selling at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This represents a 56.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Brooklyn Investment Group bought a new stake in Range Resources during the third quarter worth $25,000. Blue Trust Inc. grew its stake in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new stake in shares of Range Resources in the third quarter valued at about $49,000. Fifth Third Bancorp lifted its position in shares of Range Resources by 21.2% during the second 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. Finally, Perkins Coie Trust Co purchased a new position in Range Resources during the second quarter worth about $67,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.