Range Resources (NYSE:RRC) Upgraded to “Equal Weight” at Barclays

Barclays upgraded shares of Range Resources (NYSE:RRC) from an underweight rating to an equal weight rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Barclays currently has $34.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $35.00.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada restated a sector perform rating and issued a $39.00 target price on shares of Range Resources in a report on Thursday, July 25th. Jefferies Financial Group raised their price target on Range Resources from $34.00 to $35.00 and gave the stock a hold rating in a research note on Monday, July 8th. Wolfe Research initiated coverage on Range Resources in a research report on Thursday, July 18th. They set a peer perform rating for the company. UBS Group lowered their target price on Range Resources from $30.00 to $27.00 and set a sell rating on the stock in a report on Wednesday, September 18th. Finally, Mizuho cut their price target on Range Resources from $47.00 to $45.00 and set an outperform rating for the company in a research note on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Range Resources presently has a consensus rating of Hold and an average target price of $35.50.

Range Resources Trading Down 1.3 %

Shares of NYSE:RRC opened at $32.30 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a market cap of $7.84 billion, a P/E ratio of 16.40 and a beta of 1.80. The stock’s fifty day moving average price is $30.03 and its 200-day moving average price is $33.39.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Range Resources will post 1.87 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is currently owned by insiders.

Institutional Trading of Range Resources

Institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its stake in Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Range Resources in the second quarter worth $67,000. International Assets Investment Management LLC purchased a new position in shares of Range Resources in the second quarter worth $67,000. SYSTM Wealth Solutions LLC boosted its position in shares of Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after acquiring an additional 325 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Range Resources during the second quarter valued at $107,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.