Range Resources (NYSE:RRC) Shares Gap Up to $4.53

Shares of Range Resources Corp. (NYSE:RRC) gapped up before the market opened on Tuesday . The stock had previously closed at $4.87, but opened at $4.53. Range Resources shares last traded at $4.22, with a volume of 3,906,542 shares changing hands.

Several equities research analysts recently issued reports on RRC shares. Citigroup dropped their price target on Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley set a $4.00 price target on Range Resources and gave the company a “sell” rating in a research report on Monday, June 24th. MKM Partners raised Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Monday. Zacks Investment Research lowered Range Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Guggenheim lowered Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Range Resources currently has a consensus rating of “Hold” and an average target price of $13.45.

The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 3.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.94. The company has a 50-day simple moving average of $5.17 and a two-hundred day simple moving average of $8.34. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The company had revenue of $851.43 million during the quarter, compared to analysts’ expectations of $672.93 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Research analysts anticipate that Range Resources Corp. will post 0.44 EPS for the current year.

In other Range Resources news, CFO Mark Scucchi purchased 12,955 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $4.36 per share, with a total value of $56,483.80. Following the completion of the purchase, the chief financial officer now owns 14,149 shares in the company, valued at approximately $61,689.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David P. Poole sold 5,843 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $5.69, for a total value of $33,246.67. Following the completion of the transaction, the vice president now directly owns 58,196 shares of the company’s stock, valued at approximately $331,135.24. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in Range Resources by 2.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 51,367 shares of the oil and gas exploration company’s stock valued at $577,000 after buying an additional 1,367 shares in the last quarter. GAM Holding AG boosted its position in shares of Range Resources by 1.8% in the 1st quarter. GAM Holding AG now owns 94,200 shares of the oil and gas exploration company’s stock valued at $1,059,000 after purchasing an additional 1,700 shares during the period. Retirement Systems of Alabama boosted its position in shares of Range Resources by 0.7% in the 1st quarter. Retirement Systems of Alabama now owns 270,288 shares of the oil and gas exploration company’s stock valued at $3,038,000 after purchasing an additional 1,785 shares during the period. Mason Street Advisors LLC boosted its position in shares of Range Resources by 1.8% in the 1st quarter. Mason Street Advisors LLC now owns 110,414 shares of the oil and gas exploration company’s stock valued at $1,241,000 after purchasing an additional 1,940 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Range Resources by 0.6% in the 1st quarter. California State Teachers Retirement System now owns 342,638 shares of the oil and gas exploration company’s stock valued at $3,851,000 after purchasing an additional 1,944 shares during the period.

Range Resources Company Profile (NYSE:RRC)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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