Range Resources (NYSE:RRC) Stock Price Up 10.5%

Range Resources Corp. (NYSE:RRC) shares rose 10.5% during mid-day trading on Monday . The stock traded as high as $4.54 and last traded at $4.53, approximately 11,688,955 shares were traded during mid-day trading. An increase of 34% from the average daily volume of 8,730,771 shares. The stock had previously closed at $4.10.

RRC has been the subject of several analyst reports. Zacks Investment Research cut shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Citigroup reduced their price objective on shares of Range Resources from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Guggenheim cut shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, April 25th. Jefferies Financial Group cut shares of Range Resources from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $7.00 in a research report on Monday, July 15th. Finally, MKM Partners upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $13.45.

The firm has a market cap of $1.03 billion, a PE ratio of 3.64, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94. The stock’s fifty day moving average price is $5.17 and its 200-day moving average price is $8.34. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.75 and a quick ratio of 0.70.

Range Resources (NYSE:RRC) last released its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $851.43 million during the quarter, compared to analyst estimates of $672.93 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Range Resources Corp. will post 0.44 earnings per share for the current fiscal year.

In other news, VP David P. Poole sold 5,843 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $5.69, for a total transaction of $33,246.67. Following the completion of the sale, the vice president now owns 58,196 shares of the company’s stock, valued at $331,135.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Scucchi bought 12,955 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $4.36 per share, with a total value of $56,483.80. Following the acquisition, the chief financial officer now directly owns 14,149 shares of the company’s stock, valued at $61,689.64. The disclosure for this purchase can be found here. 0.35% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Range Resources in the second quarter valued at about $23,468,000. Caymus Capital Partners L.P. grew its holdings in shares of Range Resources by 240.5% in the second quarter. Caymus Capital Partners L.P. now owns 4,631,218 shares of the oil and gas exploration company’s stock valued at $32,326,000 after purchasing an additional 3,271,218 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Range Resources by 1,200.8% in the second quarter. Allianz Asset Management GmbH now owns 3,009,562 shares of the oil and gas exploration company’s stock valued at $21,007,000 after purchasing an additional 2,778,208 shares during the period. Vanguard Group Inc. grew its holdings in shares of Range Resources by 11.5% in the second quarter. Vanguard Group Inc. now owns 24,971,010 shares of the oil and gas exploration company’s stock valued at $174,297,000 after purchasing an additional 2,574,615 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Range Resources by 95.5% in the second quarter. Nuveen Asset Management LLC now owns 4,636,249 shares of the oil and gas exploration company’s stock valued at $32,361,000 after purchasing an additional 2,264,638 shares during the period.

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.

Further Reading: Are all No-Load Funds Equal?

Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.