Scotiabank Reaffirms Buy Rating for Range Resources Corporation (RRC)

Range Resources Corporation (NYSE:RRC)‘s stock had its “buy” rating restated by stock analysts at Scotiabank in a report issued on Monday. They presently have a $30.00 price target on the oil and gas exploration company’s stock. Scotiabank’s price objective points to a potential upside of 52.05% from the company’s previous close.

Other research analysts have also issued research reports about the company. Citigroup Inc. cut their price target on Range Resources Corporation from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. BMO Capital Markets set a $35.00 price target on Range Resources Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research raised Range Resources Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Monday, July 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Range Resources Corporation in a research report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $35.00 price target on shares of Range Resources Corporation in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.61.

Shares of Range Resources Corporation (NYSE RRC) traded up 0.35% during trading on Monday, reaching $19.80. 2,331,495 shares of the company traded hands. Range Resources Corporation has a 1-year low of $16.00 and a 1-year high of $39.92. The stock’s 50 day moving average is $18.69 and its 200 day moving average is $22.44. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 133.78 and a beta of 0.94.

Range Resources Corporation (NYSE:RRC) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.08 by $0.20. The company had revenue of $565.00 million for the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The firm’s revenue was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.35) earnings per share. On average, analysts forecast that Range Resources Corporation will post $0.50 EPS for the current year.

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In other news, Director Steffen E. Palko bought 15,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the transaction, the director now owns 27,267 shares in the company, valued at $458,358.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Ralph Lowe bought 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the transaction, the director now owns 25,413 shares of the company’s stock, valued at approximately $457,179.87. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 26,000 shares of company stock worth $449,800. 0.42% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Range Resources Corporation by 4.4% during the second quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after purchasing an additional 976,293 shares in the last quarter. Sanders Capital LLC boosted its position in Range Resources Corporation by 6.7% during the second quarter. Sanders Capital LLC now owns 14,812,151 shares of the oil and gas exploration company’s stock worth $379,186,000 after purchasing an additional 932,706 shares in the last quarter. BlackRock Inc. lifted its position in shares of 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 acquiring an additional 890,348 shares in the last quarter. State Street Corp lifted its position in shares of 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 acquiring an additional 1,805,404 shares in the last quarter. Finally, Stelliam Investment Management LP lifted its position in shares of 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 acquiring an additional 1,027,500 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

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.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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