Equities researchers at B. Riley began coverage on shares of Range Resources (NYSE:RRC) in a report released on Monday. The brokerage set a “hold” rating and a $16.00 price target on the oil and gas exploration company’s stock. B. Riley’s target price points to a potential upside of 22.14% from the company’s current price.
A number of other brokerages also recently commented on RRC. KeyCorp reissued a “hold” rating on shares of Range Resources in a report on Monday, November 13th. BMO Capital Markets set a $30.00 price target on Range Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and issued a $25.00 price target on shares of Range Resources in a report on Tuesday, October 10th. Bank of America reduced their price target on Range Resources from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Finally, Scotiabank set a $27.00 price target on Range Resources and gave the company a “buy” rating in a report on Saturday, November 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $27.14.
Range Resources (RRC) opened at $13.10 on Monday. The company has a market capitalization of $3,362.29, a PE ratio of -62.38, a P/E/G ratio of 0.86 and a beta of 0.68. Range Resources has a 1-year low of $12.98 and a 1-year high of $34.93. The company has a quick ratio of 0.47, a current ratio of 0.50 and a debt-to-equity ratio of 0.72.
In related news, Director Steffen E. Palko purchased 34,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average cost of $14.72 per share, for a total transaction of $500,480.00. Following the transaction, the director now owns 61,267 shares of the company’s stock, valued at $901,850.24. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anthony V. Dub sold 2,897 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $16.06, for a total value of $46,525.82. Following the sale, the director now owns 96,000 shares in the company, valued at $1,541,760. The disclosure for this sale can be found here. Insiders have sold a total of 44,574 shares of company stock worth $729,007 over the last quarter. Insiders own 0.42% of the company’s stock.
Several institutional investors have recently made changes to their positions in RRC. State Street Corp raised its position in shares of Range Resources by 15.0% during the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after purchasing an additional 1,805,404 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Range Resources during the 3rd quarter worth approximately $34,462,000. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 72.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock worth $53,825,000 after purchasing an additional 973,814 shares during the period. Sanders Capital LLC raised its position in shares of Range Resources by 4.5% during the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock worth $332,679,000 after purchasing an additional 673,214 shares during the period. Finally, Country Trust Bank acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $10,620,000. Institutional investors and hedge funds own 95.71% of the company’s stock.
Range Resources Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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