Range Resources (NYSE:RRC) Shares Gap Up to $3.68

Shares of Range Resources Corp. (NYSE:RRC) gapped up before the market opened on Monday . The stock had previously closed at $3.57, but opened at $3.68. Range Resources shares last traded at $3.81, with a volume of 9,113,698 shares trading hands.

RRC has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of Range Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $7.00 in a report on Monday, July 15th. Credit Suisse Group cut shares of Range Resources from an “outperform” rating to a “neutral” rating in a report on Friday, October 4th. MKM Partners upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Monday, August 19th. LADENBURG THALM/SH SH cut shares of Range Resources from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.00 to $5.00 in a report on Monday, August 26th. Finally, Citigroup decreased their price target on shares of Range Resources from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. Range Resources has an average rating of “Hold” and an average price target of $12.18.

The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70. The company’s 50 day moving average is $4.03 and its two-hundred day moving average is $6.26. The firm has a market cap of $957.75 million, a P/E ratio of 3.40, a PEG ratio of 3.65 and a beta of 1.02.

Range Resources (NYSE:RRC) last released its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Range Resources had a negative net margin of 45.91% and a positive return on equity of 4.66%. The business had revenue of $851.43 million during the quarter, compared to analysts’ expectations of $672.93 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. Research analysts predict that Range Resources Corp. will post 0.32 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, September 12th. Range Resources’s payout ratio is presently 7.08%.

In related news, VP David P. Poole sold 5,843 shares of the stock in a transaction dated Wednesday, July 31st. The shares were 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 owns 58,196 shares of the company’s stock, valued at $331,135.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret K. Dorman purchased 20,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average cost of $3.40 per share, with a total value of $69,700.00. Following the transaction, the director now directly owns 57,233 shares of the company’s stock, valued at $194,592.20. The disclosure for this purchase can be found here. Insiders purchased 42,938 shares of company stock valued at $176,159 in the last three months. Company insiders own 0.35% of the company’s stock.

A number of large investors have recently bought and sold shares of RRC. Enlightenment Research LLC acquired a new position in Range Resources in the third quarter worth about $40,000. AdvisorNet Financial Inc raised its position in Range Resources by 1,060.6% in the third quarter. AdvisorNet Financial Inc now owns 11,606 shares of the oil and gas exploration company’s stock worth $44,000 after purchasing an additional 10,606 shares in the last quarter. Machina Capital S.A.S. acquired a new position in Range Resources in the second quarter worth about $46,000. M&T Bank Corp acquired a new position in Range Resources in the second quarter worth about $69,000. Finally, World Asset Management Inc raised its position in Range Resources by 23.2% in the third quarter. World Asset Management Inc now owns 18,085 shares of the oil and gas exploration company’s stock worth $69,000 after purchasing an additional 3,407 shares in the last quarter.

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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