Range Resources Corporation (NYSE:RRC) was the target of a large decline in short interest during the month of September. As of September 29th, there was short interest totalling 30,579,304 shares, a decline of 18.1% from the September 15th total of 37,319,650 shares. Approximately 12.5% of the shares of the stock are short sold. Based on an average daily volume of 6,556,893 shares, the short-interest ratio is presently 4.7 days.

RRC has been the topic of several recent research reports. BMO Capital Markets set a $30.00 target price on Range Resources Corporation and gave the stock a “buy” rating in a report on Tuesday, October 10th. Jefferies Group LLC restated a “buy” rating and set a $25.00 target price on shares of Range Resources Corporation in a report on Tuesday, October 10th. Cowen and Company restated a “buy” rating and set a $35.00 target price on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Stifel Nicolaus restated a “buy” rating and set a $20.00 target price on shares of Range Resources Corporation in a report on Thursday, September 14th. Finally, Barclays PLC reduced their price target on shares of Range Resources Corporation from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $33.89.

In related news, Director Steffen E. Palko bought 15,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the acquisition, the director now directly owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Ralph Lowe bought 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the acquisition, the director now owns 25,413 shares in the company, valued at $457,179.87. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 26,000 shares of company stock worth $449,800. Insiders own 2.40% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Smithfield Trust Co. increased its stake in Range Resources Corporation by 480.0% during the 2nd quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in Range Resources Corporation by 26.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,746 shares of the oil and gas exploration company’s stock worth $110,000 after buying an additional 990 shares during the period. Ameritas Investment Partners Inc. increased its stake in 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 worth $117,000 after buying an additional 64 shares during the period. Financial Architects Inc increased its stake in Range Resources Corporation by 24.5% during the 2nd quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 1,200 shares during the period. Finally, Capstone Investment Advisors Netherlands B.V. increased its stake in Range Resources Corporation by 166.2% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,088 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 3,801 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of Range Resources Corporation (RRC) opened at 19.44 on Monday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 131.35 and a beta of 0.95. Range Resources Corporation has a 52-week low of $16.00 and a 52-week high of $39.64. The stock’s 50 day moving average price is $18.89 and its 200-day moving average price is $22.20.

Range Resources Corporation (NYSE:RRC) last issued its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating the Zacks’ 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 $565.00 million for the quarter, compared to the consensus estimate of $544.08 million. During the same quarter last year, the firm posted ($1.35) EPS. The business’s revenue for the quarter was up 55.8% compared to the same quarter last year. On average, analysts predict that Range Resources Corporation will post $0.50 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, September 14th. Range Resources Corporation’s dividend payout ratio is presently 100.01%.

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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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