Range Resources (NYSE:RRC) Shares Gap Down

Range Resources (NYSE:RRC) shares gapped down from $36.97 to $35.00 before trading on Wednesday, with a last traded price of $35.53. Analysts have mixed ratings, with a consensus rating of "Hold" and a target price of $42.05. The company reported $0.57 EPS, exceeding estimates, and a revenue of $748.53 million, up 21.7% year-over-year. Range Resources also announced a quarterly dividend of $0.09 per share, yielding 1.0%. Hedge funds have increased their stakes in the company recently.

Range Resources Corporation (NYSE:RRC - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $36.97, but opened at $35.00. Range Resources shares last traded at $35.5330, with a volume of 488,108 shares trading hands.

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Wall Street Analysts Forecast Growth

These energy stocks are most-upgraded amid falling oil prices

Several equities research analysts have recently issued reports on the stock. Scotiabank set a $46.00 price target on shares of Range Resources and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Weiss Ratings lowered shares of Range Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday. Susquehanna reduced their price objective on shares of Range Resources to $39.00 and set a "neutral" rating for the company in a research note on Monday, October 20th. Barclays lifted their price objective on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Range Resources from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Range Resources has a consensus rating of "Hold" and a consensus target price of $42.05.

Read Our Latest Stock Analysis on RRC

Range Resources Price Performance

10 Best Natural Gas Stocks to Buy Now

The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.42 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.41 and a beta of 0.51. The business's fifty day moving average price is $36.01 and its 200-day moving average price is $36.90.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $748.53 million during the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The firm's revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, sell-side analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

2 Small-Cap Energy Stocks With Big Upside For Investors

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources's dividend payout ratio is 18.09%.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boston Partners raised its stake in shares of Range Resources by 6.1% during the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company's stock valued at $301,133,000 after acquiring an additional 425,704 shares during the last quarter. Lingotto Investment Management LLP increased its position in shares of Range Resources by 2.0% during the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company's stock valued at $291,263,000 after buying an additional 138,877 shares during the period. Invesco Ltd. increased its position in shares of Range Resources by 230.1% during the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company's stock valued at $194,644,000 after buying an additional 3,336,299 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Range Resources by 30.5% during the second quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company's stock valued at $120,050,000 after buying an additional 689,212 shares during the period. Finally, Kopernik Global Investors LLC increased its position in shares of Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock valued at $113,667,000 after buying an additional 140,043 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Company Profile

(Get Free Report)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.

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Range Resources (NYSE:RRC) Shares Gap Down - Time to Sell?