Range Resources (RRC) Sets New 12-Month Low at $9.19

Range Resources Corp. (NYSE:RRC) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.19 and last traded at $9.19, with a volume of 534816 shares. The stock had previously closed at $9.41.

RRC has been the subject of a number of research analyst reports. Guggenheim set a $18.00 price target on Range Resources and gave the company a “buy” rating in a research report on Wednesday, April 10th. SunTrust Banks reduced their price objective on Range Resources to $12.00 and set a “hold” rating for the company in a report on Tuesday, January 8th. 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 Sunday, December 30th. Bank of America downgraded shares of Range Resources from a “neutral” rating to an “underperform” rating in a research report on Friday, January 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $19.00 price target on shares of Range Resources in a research report on Wednesday, January 30th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.51.

The stock has a market cap of $2.38 billion, a P/E ratio of 8.18, a P/E/G ratio of 0.86 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.77 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Monday, April 22nd. The oil and gas exploration company reported $0.36 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $789.65 million. During the same period in the previous year, the business earned $0.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Range Resources Corp. will post 0.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.87%. Range Resources’s dividend payout ratio is currently 7.08%.

In related news, Director Steven D. Gray purchased 20,000 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $10.95 per share, for a total transaction of $219,000.00. Following the completion of the acquisition, the director now owns 7,804 shares of the company’s stock, valued at $85,453.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James M. Funk purchased 10,000 shares of the stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $9.80 per share, with a total value of $98,000.00. Following the completion of the acquisition, the director now directly owns 22,706 shares of the company’s stock, valued at approximately $222,518.80. The disclosure for this purchase can be found here. 0.35% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of RRC. Investec Asset Management LTD purchased a new stake in shares of Range Resources in the fourth quarter valued at $90,825,000. FMR LLC increased its stake in shares of Range Resources by 9,258.5% during the fourth quarter. FMR LLC now owns 7,341,074 shares of the oil and gas exploration company’s stock worth $70,254,000 after buying an additional 7,262,631 shares during the period. Kopernik Global Investors LLC increased its stake in shares of Range Resources by 51.6% during the fourth quarter. Kopernik Global Investors LLC now owns 6,929,952 shares of the oil and gas exploration company’s stock worth $66,320,000 after buying an additional 2,359,051 shares during the period. Norges Bank purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $19,595,000. Finally, Mackenzie Financial Corp increased its stake in shares of Range Resources by 52.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,355,090 shares of the oil and gas exploration company’s stock worth $51,248,000 after buying an additional 1,850,126 shares during the period.

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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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