Range Resources’ (RRC) “Buy” Rating Reiterated at KLR Group
KLR Group reaffirmed their buy rating on shares of Range Resources (NYSE:RRC) in a research report released on Thursday. They currently have a $27.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $26.00.
Several other analysts have also recently commented on RRC. Credit Suisse Group started coverage on shares of Range Resources in a research report on Monday, December 11th. They set an outperform rating and a $24.00 target price for the company. Capital One Financial cut shares of Range Resources from an overweight rating to an equal weight rating in a research report on Thursday, January 25th. SunTrust Banks reiterated a hold rating and set a $20.00 target price on shares of Range Resources in a research report on Friday, December 8th. ValuEngine upgraded shares of Range Resources from a sell rating to a hold rating in a research report on Friday, December 1st. Finally, Royal Bank of Canada dropped their target price on shares of Range Resources to $28.00 and set an outperform rating for the company in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Range Resources currently has an average rating of Hold and an average price target of $24.50.
Range Resources (NYSE:RRC) opened at $14.65 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.57 and a debt-to-equity ratio of 0.71. Range Resources has a 1 year low of $11.93 and a 1 year high of $30.30. The firm has a market cap of $3,641.10, a P/E ratio of 11.81, a P/E/G ratio of 0.72 and a beta of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.55%. Range Resources’s payout ratio is presently 5.97%.
In related news, Director Steffen E. Palko bought 34,000 shares of Range Resources stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average cost of $14.72 per share, with a total value of $500,480.00. Following the purchase, the director now owns 61,267 shares in the company, valued at $901,850.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David P. Poole sold 30,920 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $16.36, for a total transaction of $505,851.20. Following the completion of the transaction, the vice president now directly owns 17,647 shares of the company’s stock, valued at $288,704.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,574 shares of company stock valued at $729,007. Company insiders own 0.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its stake in Range Resources by 1.3% in 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 purchasing an additional 64 shares during the period. World Asset Management Inc boosted its stake in Range Resources by 19.7% in the 3rd quarter. World Asset Management Inc now owns 19,372 shares of the oil and gas exploration company’s stock worth $379,000 after purchasing an additional 3,186 shares during the period. Waters Parkerson & CO. LLC boosted its stake in Range Resources by 5.3% in the 3rd quarter. Waters Parkerson & CO. LLC now owns 64,686 shares of the oil and gas exploration company’s stock worth $1,266,000 after purchasing an additional 3,275 shares during the period. Pitcairn Co. boosted its stake in Range Resources by 10.8% in the 3rd quarter. Pitcairn Co. now owns 35,480 shares of the oil and gas exploration company’s stock worth $694,000 after purchasing an additional 3,449 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Range Resources by 21.5% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,078 shares of the oil and gas exploration company’s stock worth $393,000 after purchasing an additional 3,557 shares during the period. 96.51% of the stock is owned by hedge funds and other institutional investors.
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About Range Resources
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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