Range Resources (RRC) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp started coverage on shares of Range Resources (NYSE:RRC) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a sector weight rating and a $11.13 price objective on the oil and gas exploration company’s stock.

Several other brokerages have also issued reports on RRC. TD Securities lifted their target price on shares of Range Resources from $18.00 to $19.00 and gave the company a hold rating in a research report on Wednesday, October 24th. Zacks Investment Research lowered shares of Range Resources from a buy rating to a hold rating in a report on Tuesday, November 20th. Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the stock a buy rating in a report on Tuesday, October 23rd. Morgan Stanley set a $17.00 price objective on shares of Range Resources and gave the stock a sell rating in a report on Monday, October 29th. Finally, Macquarie set a $18.00 price objective on shares of Range Resources and gave the stock a hold rating in a report on Wednesday, September 26th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. Range Resources presently has a consensus rating of Hold and a consensus price target of $20.21.

Range Resources stock traded up $0.11 during mid-day trading on Tuesday, hitting $11.55. 266,837 shares of the company traded hands, compared to its average volume of 8,456,383. Range Resources has a one year low of $9.22 and a one year high of $18.59. The firm has a market cap of $2.89 billion, a PE ratio of 19.80, a PEG ratio of 0.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.



Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The business had revenue of $811.20 million during the quarter, compared to analyst estimates of $747.06 million. During the same period in the previous year, the business posted $0.05 earnings per share. Range Resources’s revenue for the quarter was up 68.2% on a year-over-year basis. As a group, research analysts anticipate that Range Resources will post 0.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Friday, December 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, December 13th. Range Resources’s payout ratio is currently 13.79%.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Range Resources by 26.4% during the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock valued at $330,575,000 after purchasing an additional 4,132,913 shares during the period. Dimensional Fund Advisors LP increased its position in Range Resources by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,193,291 shares of the oil and gas exploration company’s stock valued at $156,194,000 after purchasing an additional 195,811 shares during the period. ANTIPODES PARTNERS Ltd increased its position in Range Resources by 7.4% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 6,264,301 shares of the oil and gas exploration company’s stock valued at $106,430,000 after purchasing an additional 433,986 shares during the period. Fisher Asset Management LLC increased its position in Range Resources by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock valued at $47,655,000 after purchasing an additional 93,872 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Range Resources by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock valued at $42,184,000 after purchasing an additional 640,077 shares during the period.

Range Resources Company Profile

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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Analyst Recommendations for Range Resources (NYSE:RRC)

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