Range Resources (RRC) Shares Gap Down to $15.72

Range Resources Corp. (NYSE:RRC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $14.93, but opened at $15.72. Range Resources shares last traded at $16.17, with a volume of 2767951 shares.

RRC has been the topic of several recent research reports. TD Securities dropped their target price on shares of Range Resources from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, July 31st. Capital One Financial upgraded shares of Range Resources from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 31st. Morgan Stanley dropped their target price on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, August 16th. KLR Group reiterated a “buy” rating and set a $23.00 target price on shares of Range Resources in a report on Monday, August 20th. Finally, B. Riley upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $17.00 to $22.00 in a report on Thursday, September 20th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.16.

The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.22 and a beta of 0.58. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.72.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The business had revenue of $811.20 million for the quarter, compared to analysts’ expectations of $747.06 million. During the same period last year, the business earned $0.05 EPS. The company’s revenue was up 68.2% compared to the same quarter last year. Equities analysts forecast that Range Resources Corp. will post 1.02 EPS for the current year.

Several large investors have recently added to or reduced their stakes in RRC. Retirement Systems of Alabama raised its position in shares of Range Resources by 171.8% in the 2nd quarter. Retirement Systems of Alabama now owns 293,689 shares of the oil and gas exploration company’s stock valued at $4,913,000 after purchasing an additional 185,648 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Range Resources by 293.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 63,130 shares of the oil and gas exploration company’s stock valued at $1,056,000 after purchasing an additional 47,100 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Range Resources by 150.5% in the 2nd quarter. Texas Permanent School Fund now owns 146,382 shares of the oil and gas exploration company’s stock valued at $2,449,000 after purchasing an additional 87,944 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Range Resources by 201.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 98,635 shares of the oil and gas exploration company’s stock valued at $1,650,000 after purchasing an additional 65,869 shares during the last quarter. Finally, S&CO Inc. raised its position in shares of Range Resources by 8.3% in the 2nd quarter. S&CO Inc. now owns 329,224 shares of the oil and gas exploration company’s stock valued at $5,508,000 after purchasing an additional 25,127 shares during the last quarter.

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Range Resources Company Profile (NYSE:RRC)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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