Shares of Range Resources Corporation (NYSE:RRC) traded down 3% during trading on Monday . The stock traded as low as $16.00 and last traded at $17.08. 5,633,446 shares changed hands during trading, a decline of 16% from the average session volume of 6,682,830 shares. The stock had previously closed at $16.58.
Several analysts have recently commented on the company. Royal Bank Of Canada reiterated a “buy” rating and set a $32.00 price objective on shares of Range Resources Corporation in a report on Friday. Goldman Sachs Group, Inc. (The) lowered Range Resources Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $35.00 to $20.50 in a report on Friday. KeyCorp reiterated a “hold” rating on shares of Range Resources Corporation in a report on Wednesday, September 6th. Jefferies Group LLC set a $36.00 price objective on Range Resources Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, Cowen and Company reiterated a “buy” rating and set a $35.00 price objective on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Range Resources Corporation has a consensus rating of “Buy” and an average target price of $38.33.
The firm has a market cap of $4.14 billion, a PE ratio of 114.66 and a beta of 0.94. The company’s 50 day moving average price is $18.37 and its 200-day moving average price is $23.72.
Range Resources Corporation (NYSE:RRC) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.20. The firm had revenue of $565 million during the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The firm’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.35) earnings per share. On average, equities analysts predict that Range Resources Corporation will post $0.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.47%. Range Resources Corporation’s dividend payout ratio is currently 100.01%.
In related news, Director James M. Funk bought 4,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was bought at an average cost of $22.96 per share, with a total value of $91,840.00. Following the completion of the acquisition, the director now owns 11,303 shares in the company, valued at approximately $259,516.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steffen E. Palko bought 15,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $16.81 per share, with a total value of $252,150.00. Following the completion of the acquisition, the director now owns 27,267 shares of the company’s stock, valued at approximately $458,358.27. The disclosure for this purchase can be found here. Insiders have purchased 30,000 shares of company stock valued at $541,640 over the last three months. 0.42% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Range Resources Corporation by 4.4% in the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock valued at $537,603,000 after buying an additional 976,293 shares in the last quarter. Sanders Capital LLC increased its holdings in Range Resources Corporation by 6.7% in the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock valued at $379,186,000 after buying an additional 932,706 shares in the last quarter. BlackRock Inc. increased its holdings in Range Resources Corporation by 6.8% in the second quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after buying an additional 890,348 shares in the last quarter. State Street Corp increased its holdings in Range Resources Corporation by 15.0% in the second quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after buying an additional 1,805,404 shares in the last quarter. Finally, Stelliam Investment Management LP increased its holdings in Range Resources Corporation by 21.9% in the first quarter. Stelliam Investment Management LP now owns 5,722,500 shares of the oil and gas exploration company’s stock valued at $166,525,000 after buying an additional 1,027,500 shares in the last quarter. 95.34% of the stock is owned by institutional investors.
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Range Resources Corporation Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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