Range Resources Corporation (RRC) Receives Average Rating of “Buy” from Brokerages

Shares of Range Resources Corporation (NYSE:RRC) have earned an average rating of “Buy” from the twenty-eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $31.89.

A number of brokerages recently commented on RRC. Robert W. Baird dropped their price target on Range Resources Corporation from $29.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, August 11th. Morgan Stanley dropped their price target on Range Resources Corporation from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Jefferies Group LLC set a $36.00 price target on Range Resources Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Scotiabank reaffirmed a “buy” rating and issued a $30.00 price target on shares of Range Resources Corporation in a research note on Monday, October 9th. Finally, BidaskClub lowered Range Resources Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.



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A number of large investors have recently added to or reduced their stakes in the business. Elm Ridge Management LLC increased its stake in Range Resources Corporation by 3.6% in the 3rd quarter. Elm Ridge Management LLC now owns 287,960 shares of the oil and gas exploration company’s stock worth $5,636,000 after acquiring an additional 9,907 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Range Resources Corporation by 55.0% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 571,977 shares of the oil and gas exploration company’s stock valued at $11,194,000 after purchasing an additional 203,036 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Range Resources Corporation by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 340,362 shares of the oil and gas exploration company’s stock valued at $6,661,000 after purchasing an additional 7,300 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Range Resources Corporation during the 3rd quarter valued at approximately $34,462,000. Finally, Madison Investment Holdings Inc. increased its position in shares of Range Resources Corporation by 21.2% during the 3rd quarter. Madison Investment Holdings Inc. now owns 391,200 shares of the oil and gas exploration company’s stock valued at $7,656,000 after purchasing an additional 68,300 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of Range Resources Corporation (RRC) traded up $0.83 during mid-day trading on Friday, reaching $18.03. The company had a trading volume of 7,812,341 shares, compared to its average volume of 7,361,568. Range Resources Corporation has a 12 month low of $15.99 and a 12 month high of $39.64. The stock has a market capitalization of $4,473.95, a price-to-earnings ratio of 50.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47.

Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Range Resources Corporation had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company had revenue of $482.20 million during the quarter, compared to analyst estimates of $543.16 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. research analysts predict that Range Resources Corporation will post 0.47 EPS for the current year.

Range Resources Corporation Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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