Robert W. Baird Lowers Range Resources Corporation (RRC) Price Target to $22.00
Range Resources Corporation (NYSE:RRC) had its target price cut by equities research analysts at Robert W. Baird from $29.00 to $22.00 in a report released on Friday. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Robert W. Baird’s target price points to a potential upside of 30.02% from the stock’s current price.
A number of other brokerages have also recently weighed in on RRC. BidaskClub upgraded Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada set a $44.00 price target on Range Resources Corporation and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Evercore ISI upgraded Range Resources Corporation to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, April 19th. Piper Jaffray Companies reiterated an “overweight” rating and set a $49.00 price target on shares of Range Resources Corporation in a research report on Thursday, April 27th. Finally, Wells Fargo & Company upgraded Range Resources Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Range Resources Corporation presently has an average rating of “Buy” and a consensus target price of $40.14.
Shares of Range Resources Corporation (NYSE:RRC) traded down 0.24% on Friday, hitting $16.88. The company’s stock had a trading volume of 3,769,655 shares. Range Resources Corporation has a 1-year low of $16.50 and a 1-year high of $43.60. The company has a 50 day moving average of $21.11 and a 200 day moving average of $26.03. The firm has a market cap of $4.12 billion, a PE ratio of 114.05 and a beta of 0.92.
Range Resources Corporation (NYSE:RRC) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.20. The business had revenue of $565 million for the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. The business’s quarterly revenue was up 55.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.35) EPS. Equities analysts forecast that Range Resources Corporation will post $0.54 EPS for the current year.
In related news, Director James M. Funk bought 4,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $22.96 per share, for a total transaction of $91,840.00. Following the completion of the acquisition, the director now directly owns 11,303 shares in the company, valued at $259,516.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Ray N. Walker, Jr. sold 7,200 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.17, for a total value of $166,824.00. Following the transaction, the chief operating officer now owns 63,861 shares in the company, valued at $1,479,659.37. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 30,000 shares of company stock worth $541,640 and have sold 36,521 shares worth $842,742. 2.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of RRC. Oslo Asset Management AS acquired a new stake in shares of Range Resources Corporation during the first quarter valued at about $12,979,000. Sippican Capital Advisors increased its stake in shares of Range Resources Corporation by 110.6% in the first quarter. Sippican Capital Advisors now owns 24,175 shares of the oil and gas exploration company’s stock valued at $703,000 after buying an additional 12,695 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Range Resources Corporation by 16.4% in the first quarter. Nationwide Fund Advisors now owns 304,877 shares of the oil and gas exploration company’s stock valued at $8,872,000 after buying an additional 43,023 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Range Resources Corporation by 40.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 100,315 shares of the oil and gas exploration company’s stock valued at $2,919,000 after buying an additional 28,669 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Range Resources Corporation by 2.1% in the first quarter. Retirement Systems of Alabama now owns 90,931 shares of the oil and gas exploration company’s stock valued at $2,646,000 after buying an additional 1,904 shares in the last quarter. Institutional investors own 93.84% of the company’s stock.
About Range Resources Corporation
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.
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