Range Resources (NYSE:RRC) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Range Resources (NYSE:RRC) from an underweight rating to an equal weight rating in a research report report published on Wednesday morning, MarketBeat.com reports. Barclays currently has $34.00 target price on the oil and gas exploration company’s stock, down from their previous target price of $35.00.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Range Resources from $37.00 to $31.00 and set an underweight rating on the stock in a research report on Thursday, September 12th. Morgan Stanley decreased their price target on Range Resources from $33.00 to $31.00 and set an underweight rating for the company in a report on Monday, September 16th. The Goldman Sachs Group dropped their price objective 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. Scotiabank raised shares of Range Resources from a sector perform rating to a sector outperform rating and set a $45.00 price objective for the company in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group upped their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a hold rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $35.50.

Range Resources Trading Down 1.2 %

Shares of RRC stock opened at $32.31 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $7.84 billion, a P/E ratio of 16.40 and a beta of 1.80. Range Resources has a twelve month low of $27.29 and a twelve month high of $39.33. The stock’s fifty day simple moving average is $30.04 and its 200 day simple moving average is $33.39.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. As a group, sell-side analysts predict that Range Resources will post 1.87 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Range Resources by 25.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after acquiring an additional 5,759,883 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Range Resources during the 2nd quarter valued at approximately $78,223,000. Vanguard Group Inc. grew its holdings in shares of Range Resources by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares during the period. Herr Investment Group LLC raised its position in shares of Range Resources by 4,594.4% in the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after acquiring an additional 487,011 shares in the last quarter. Finally, Sagefield Capital LP boosted its position in shares of Range Resources by 44.8% during the second quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock valued at $30,408,000 after purchasing an additional 280,452 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.