Range Resources (NYSE:RRC) Stock Rating Reaffirmed by Susquehanna Bancshares

Susquehanna Bancshares reissued their negative rating on shares of Range Resources (NYSE:RRC) in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have a $5.00 price target on the oil and gas exploration company’s stock, down from their prior price target of $6.00.

RRC has been the subject of several other reports. TD Securities cut shares of Range Resources from a hold rating to a reduce rating and set a $3.75 target price for the company. in a research report on Wednesday, January 8th. Citigroup cut shares of Range Resources from a positive rating to a neutral rating and lowered their price objective for the stock from $6.00 to $5.00 in a research report on Monday. They noted that the move was a valuation call. Credit Suisse Group cut shares of Range Resources from an outperform rating to a neutral rating in a research report on Friday, October 4th. Scotiabank cut shares of Range Resources from an outperform rating to a sector perform rating and set a $5.00 price objective for the company. in a research report on Friday, December 6th. Finally, ValuEngine upgraded shares of Range Resources from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Range Resources currently has a consensus rating of Hold and a consensus target price of $9.18.

Shares of NYSE:RRC opened at $4.55 on Monday. The firm has a 50 day moving average of $4.32 and a 200-day moving average of $4.49. The stock has a market capitalization of $1.14 billion, a PE ratio of 4.02 and a beta of 1.08. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.75. Range Resources has a 12 month low of $3.26 and a 12 month high of $12.14.

Range Resources (NYSE:RRC) last issued its earnings results on Wednesday, October 23rd. The oil and gas exploration company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $622.45 million during the quarter, compared to analysts’ expectations of $594.94 million. Range Resources had a negative net margin of 50.85% and a positive return on equity of 3.14%. The business’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. On average, research analysts predict that Range Resources will post 0.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, December 12th. Range Resources’s payout ratio is 7.08%.

A number of institutional investors and hedge funds have recently bought and sold shares of RRC. Wetherby Asset Management Inc. bought a new stake in Range Resources during the 3rd quarter worth approximately $39,000. Commonwealth Equity Services LLC bought a new stake in Range Resources during the 3rd quarter worth approximately $39,000. Enlightenment Research LLC bought a new stake in Range Resources during the 3rd quarter worth approximately $40,000. Cetera Advisor Networks LLC bought a new stake in Range Resources during the 3rd quarter worth approximately $43,000. Finally, AdvisorNet Financial Inc grew its holdings in Range Resources by 1,060.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 11,606 shares of the oil and gas exploration company’s stock worth $44,000 after acquiring an additional 10,606 shares during the last quarter.

Range Resources Company Profile

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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Analyst Recommendations for Range Resources (NYSE:RRC)

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