Trading Report: Today, Range Resources Corp. (RRC) Downgraded by Vetr Inc.

Today, Range Resources Corp. (RRC) Downgraded by Vetr Inc.

Vetr lowered shares of Range Resources Corp. (NYSE:RRC) from a strong-buy rating to a buy rating in a research note released on Monday morning. They currently have $43.75 target price on the oil and gas exploration company’s stock.

Several other research firms have also recently weighed in on RRC. KLR Group upgraded shares of Range Resources Corp. from an accumulate rating to a buy rating and set a $53.00 price objective on the stock in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of Range Resources Corp. from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research report on Tuesday, July 12th. Imperial Capital upgraded shares of Range Resources Corp. from an in-line rating to an outperform rating and upped their price objective for the stock from $45.00 to $55.00 in a research report on Thursday, July 14th. Piper Jaffray Cos. restated an overweight rating and issued a $52.00 price objective on shares of Range Resources Corp. in a research report on Friday, July 15th. Finally, JPMorgan Chase & Co. restated a hold rating on shares of Range Resources Corp. in a research report on Sunday, July 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $44.35.

Range Resources Corp. (NYSE:RRC) opened at 38.45 on Monday. The stock has a 50 day moving average of $39.52 and a 200-day moving average of $40.16. Range Resources Corp. has a 12 month low of $19.21 and a 12 month high of $46.96. The firm’s market cap is $6.41 billion.

Range Resources Corp. (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The firm had revenue of $362.67 million for the quarter, compared to analysts’ expectations of $327.40 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Equities research analysts predict that Range Resources Corp. will post ($0.20) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Wednesday, September 14th. Range Resources Corp.’s payout ratio is -1.42%.

In related news, COO Ray N. Walker, Jr. sold 13,350 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $37.53, for a total value of $501,025.50. Following the completion of the sale, the chief operating officer now owns 42,598 shares of the company’s stock, valued at $1,598,702.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Gene Maxwell purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was acquired at an average cost of $37.00 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 12,211 shares of the company’s stock, valued at $451,807. The disclosure for this purchase can be found here. 2.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in RRC. Chevy Chase Trust Holdings Inc. increased its position in Range Resources Corp. by 10.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 896,276 shares of the oil and gas exploration company’s stock worth $34,730,000 after buying an additional 83,117 shares during the period. BNP Paribas Arbitrage SA increased its position in Range Resources Corp. by 74.2% in the third quarter. BNP Paribas Arbitrage SA now owns 51,517 shares of the oil and gas exploration company’s stock worth $1,996,000 after buying an additional 21,947 shares during the period. Williams Jones & Associates LLC increased its position in Range Resources Corp. by 8.8% in the second quarter. Williams Jones & Associates LLC now owns 8,070 shares of the oil and gas exploration company’s stock worth $348,000 after buying an additional 650 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Range Resources Corp. during the second quarter worth about $296,000. Finally, Kentucky Retirement Systems purchased a new position in Range Resources Corp. during the second quarter worth about $623,000.

Range Resources Corp. Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.

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