Shares of Range Resources Corporation (NYSE:RRC) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $16.47 and last traded at $16.41, with a volume of 7,666,911 shares traded. The stock had previously closed at $17.91.

A number of analysts have issued reports on RRC shares. ValuEngine raised Range Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating and issued a $38.00 target price on shares of Range Resources Corporation in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) downgraded Range Resources Corporation from a “conviction-buy” rating to a “buy” rating and set a $42.50 target price for the company. in a research report on Friday, June 2nd. Royal Bank Of Canada set a $44.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Finally, BidaskClub raised Range Resources Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.81.

The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 110.480 and a beta of 0.94. The firm’s 50 day moving average price is $18.59 and its 200-day moving average price is $23.87.

Range Resources Corporation (NYSE:RRC) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The business had revenue of $565 million during the quarter, compared to the consensus estimate of $544.08 million. During the same quarter in the prior year, the firm earned ($1.35) EPS. The business’s revenue was up 55.8% on a year-over-year basis. Analysts forecast that Range Resources Corporation will post $0.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Thursday, September 14th. Range Resources Corporation’s dividend payout ratio (DPR) is presently 100.01%.

In related news, Director Mary Ralph Lowe acquired 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was acquired at an average price of $17.99 per share, with a total value of $179,900.00. Following the acquisition, the director now directly owns 25,413 shares of the company’s stock, valued at $457,179.87. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James M. Funk acquired 4,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $22.96 per share, with a total value of $91,840.00. Following the acquisition, the director now directly owns 11,303 shares in the company, valued at $259,516.88. The disclosure for this purchase can be found here. Insiders have acquired a total of 30,000 shares of company stock valued at $541,640 in the last three months. Insiders own 2.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Range Resources Corporation by 0.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock valued at $119,000 after purchasing an additional 31 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Range Resources Corporation by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after purchasing an additional 64 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Range Resources Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock valued at $271,000 after purchasing an additional 100 shares during the last quarter. Capstone Asset Management Co. boosted its holdings in shares of Range Resources Corporation by 1.1% during the 1st quarter. Capstone Asset Management Co. now owns 12,374 shares of the oil and gas exploration company’s stock valued at $360,000 after purchasing an additional 140 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its holdings in shares of Range Resources Corporation by 1.0% during the 1st quarter. Advantus Capital Management Inc now owns 18,832 shares of the oil and gas exploration company’s stock valued at $548,000 after purchasing an additional 185 shares during the last quarter. 95.34% of the stock is owned by institutional investors and hedge funds.

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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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