Range Resources Corporation (NYSE:RRC) Hits New 12-Month Low at $20.25

Range Resources Corporation (NYSE:RRC)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $20.25 and last traded at $20.33, with a volume of 7,924,530 shares traded. The stock had previously closed at $21.11.

RRC has been the subject of several research reports. Scotiabank reaffirmed a “buy” rating and issued a $44.00 price target on shares of Range Resources Corporation in a research report on Friday, April 21st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Range Resources Corporation in a research report on Tuesday, April 25th. KLR Group upped their price target on shares of Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Barclays PLC reaffirmed a “sell” rating and issued a $28.00 price target on shares of Range Resources Corporation in a research report on Thursday, April 27th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $49.00 price target on shares of Range Resources Corporation in a research report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Range Resources Corporation presently has an average rating of “Buy” and a consensus target price of $39.97.

The firm has a 50 day moving average price of $20.21 and a 200-day moving average price of $25.31. The firm has a market cap of $4.38 billion, a PE ratio of 121.22 and a beta of 0.92.

Range Resources Corporation (NYSE:RRC) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.20. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The company had revenue of $565 million during the quarter, compared to the consensus estimate of $544.08 million. During the same period in the prior year, the company earned ($1.35) EPS. Range Resources Corporation’s revenue was up 55.8% on a year-over-year basis. Equities research analysts forecast that Range Resources Corporation will post $0.52 EPS for the current fiscal year.

In other Range Resources Corporation news, Director James M. Funk purchased 4,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was bought at an average cost of $22.96 per share, with a total value of $91,840.00. Following the acquisition, the director now owns 11,303 shares of the company’s stock, valued at $259,516.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad L. Stephens sold 28,744 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total value of $662,549.20. Following the sale, the insider now owns 106,692 shares in the company, valued at approximately $2,459,250.60. The disclosure for this sale can be found here. Over the last three months, insiders acquired 30,000 shares of company stock valued at $541,640 and sold 36,521 shares valued at $842,742. 2.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the company. Bartlett & Co. LLC increased its stake in Range Resources Corporation by 43.0% in the first quarter. Bartlett & Co. LLC now owns 3,475 shares of the oil and gas exploration company’s stock valued at $101,000 after buying an additional 1,045 shares during the last quarter. Smithfield Trust Co. increased its stake in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock valued at $107,000 after buying an additional 3,840 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock valued at $109,000 after buying an additional 257 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Range Resources Corporation by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after buying an additional 64 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock valued at $119,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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Range Resources Corporation 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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