Range Resources (NYSE:RRC) Shares Up 16.5%

Range Resources Corp. (NYSE:RRC)’s stock price shot up 16.5% during trading on Tuesday . The stock traded as high as $5.59 and last traded at $5.57, 24,882,448 shares were traded during mid-day trading. An increase of 195% from the average session volume of 8,442,845 shares. The stock had previously closed at $4.78.

Several research firms have commented on RRC. TD Securities increased their price objective on shares of TMX Group from C$105.00 to C$108.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Horiba from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Cowen set a $27.00 price objective on shares of Schnitzer Steel Industries and gave the company a “hold” rating in a research note on Tuesday, April 9th. Guggenheim lowered shares of Range Resources from a “buy” rating to a “neutral” rating in a research note on Thursday, April 25th. Finally, Susquehanna Bancshares decreased their price objective on shares of Range Resources from $11.00 to $8.50 and set a “positive” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Range Resources has a consensus rating of “Hold” and a consensus price target of $15.01.

The firm has a 50 day moving average of $6.20. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.91. The company has a market cap of $1.30 billion, a P/E ratio of 4.93, a PEG ratio of 0.88 and a beta of 0.98.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Range Resources had a negative net margin of 45.91% and a positive return on equity of 4.66%. The company had revenue of $851.43 million during the quarter, compared to analyst estimates of $672.93 million. During the same quarter last year, the business posted $0.20 EPS. Range Resources’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, analysts predict that Range Resources Corp. will post 0.44 earnings per share for the current fiscal year.

In other Range Resources news, Director Steven D. Gray acquired 20,000 shares of Range Resources stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $8.77 per share, for a total transaction of $175,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in RRC. Raymond James & Associates raised its position in shares of Range Resources by 14.6% in the 4th quarter. Raymond James & Associates now owns 104,033 shares of the oil and gas exploration company’s stock valued at $996,000 after purchasing an additional 13,228 shares in the last quarter. United Services Automobile Association increased its holdings in shares of Range Resources by 13.6% in the 4th quarter. United Services Automobile Association now owns 36,270 shares of the oil and gas exploration company’s stock valued at $347,000 after acquiring an additional 4,352 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Range Resources by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,655,071 shares of the oil and gas exploration company’s stock valued at $92,401,000 after acquiring an additional 461,780 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Range Resources by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,001,135 shares of the oil and gas exploration company’s stock valued at $19,150,000 after acquiring an additional 58,751 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Range Resources in the 4th quarter valued at approximately $665,000.

About Range Resources (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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