Morgan Stanley Analysts Give Range Resources (NYSE:RRC) a $4.00 Price Target

Morgan Stanley set a $4.00 price target on Range Resources (NYSE:RRC) in a research report sent to investors on Monday, Stock Target Advisor reports. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.

A number of other brokerages have also recently weighed in on RRC. Cowen assumed coverage on shares of Range Resources in a research report on Tuesday, April 9th. They set an outperform rating and a $14.00 price target for the company. TheStreet cut shares of Range Resources from a c rating to a d rating in a research report on Wednesday, March 13th. Credit Suisse Group set a $16.00 price target on shares of Range Resources and gave the company a buy rating in a research report on Tuesday, February 26th. B. Riley set a $21.00 price target on shares of Range Resources and gave the company a buy rating in a research report on Tuesday, February 26th. Finally, Guggenheim set a $18.00 price target on shares of Range Resources and gave the company a buy rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $16.42.

Shares of RRC stock opened at $6.91 on Monday. Range Resources has a 12 month low of $6.43 and a 12 month high of $18.59. The stock has a market capitalization of $1.71 billion, a P/E ratio of 6.12, a PEG ratio of 0.96 and a beta of 1.09. The stock’s 50-day moving average price is $7.86. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.93.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The business had revenue of $748.13 million during the quarter, compared to analysts’ expectations of $789.65 million. During the same period last year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts anticipate that Range Resources will post 0.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, June 13th. Range Resources’s dividend payout ratio (DPR) is currently 7.08%.

In other Range Resources news, CFO Mark Scucchi acquired 11,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $9.04 per share, for a total transaction of $100,344.00. Following the completion of the acquisition, the chief financial officer now owns 3,068 shares of the company’s stock, valued at approximately $27,734.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Gray acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $8.77 per share, with a total value of $175,400.00. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its stake in Range Resources by 667.8% in the first quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 1,950 shares during the last quarter. Pearl River Capital LLC purchased a new position in Range Resources in the fourth quarter worth approximately $25,000. Mercer Global Advisors Inc. ADV purchased a new position in Range Resources in the first quarter worth approximately $105,000. AlphaCrest Capital Management LLC purchased a new position in Range Resources in the fourth quarter worth approximately $107,000. Finally, B. Riley Wealth Management Inc. purchased a new position in Range Resources in the first quarter worth approximately $129,000.

About Range Resources

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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Analyst Recommendations for Range Resources (NYSE:RRC)

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