Morgan Stanley set a $18.00 price target on Range Resources (NYSE:RRC) in a research report sent to investors on Friday. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.
Several other equities analysts have also recently weighed in on RRC. TD Securities cut their price target on Range Resources from $18.00 to $17.00 and set a hold rating for the company in a report on Tuesday, July 31st. Wolfe Research upgraded Range Resources from an underperform rating to a market perform rating in a report on Wednesday, June 27th. Macquarie set a $18.00 price target on Range Resources and gave the company a hold rating in a report on Wednesday, September 26th. Piper Jaffray Companies restated a buy rating and set a $27.00 price target on shares of Range Resources in a report on Friday, July 20th. Finally, Royal Bank of Canada upgraded Range Resources to a hold rating in a report on Wednesday, September 26th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $22.00.
RRC traded up $0.16 on Friday, hitting $16.76. 6,629,631 shares of the company’s stock traded hands, compared to its average volume of 7,550,091. The company has a market capitalization of $4.24 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.38 and a beta of 0.57. Range Resources has a one year low of $11.93 and a one year high of $20.07. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 0.73.
Range Resources (NYSE:RRC) last issued its earnings results on Monday, July 30th. The oil and gas exploration company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $745.00 million for the quarter, compared to the consensus estimate of $671.50 million. Range Resources had a return on equity of 4.00% and a net margin of 2.46%. The firm’s quarterly revenue was up 31.9% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Equities research analysts predict that Range Resources will post 0.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, September 13th. Range Resources’s dividend payout ratio (DPR) is 13.79%.
Several institutional investors have recently made changes to their positions in RRC. BlackRock Inc. boosted its holdings in shares of Range Resources by 26.4% in the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock worth $330,575,000 after purchasing an additional 4,132,913 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Range Resources by 54.6% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after purchasing an additional 2,058,057 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Range Resources during the 2nd quarter worth approximately $18,499,000. Dimensional Fund Advisors LP lifted its stake in shares of Range Resources by 12.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock worth $150,530,000 after acquiring an additional 1,014,157 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Range Resources by 6,602.8% during the 3rd quarter. Bank of Montreal Can now owns 787,040 shares of the oil and gas exploration company’s stock worth $13,372,000 after acquiring an additional 775,298 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.
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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