Range Resources Corp. (NYSE:RRC) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 12,725,180 shares, a decrease of 49.8% from the September 15th total of 25,342,388 shares. Based on an average daily volume of 6,217,455 shares, the short-interest ratio is currently 2.0 days. Currently, 5.9% of the companys shares are sold short.
Range Resources Corp. (NYSE:RRC) opened at 38.22 on Thursday. The company has a 50 day moving average of $39.10 and a 200-day moving average of $40.56. The stocks market capitalization is $6.37 billion. Range Resources Corp. has a one year low of $19.21 and a one year high of $46.96.
Range Resources Corp. (NYSE:RRC) last issued its earnings results on Tuesday, July 26th. The oil and gas exploration company reported ($0.14) EPS for the quarter, topping analysts consensus estimates of ($0.21) by $0.07. Range Resources Corp. had a negative return on equity of 14.57% and a negative net margin of 71.00%. The firm had revenue of $362.67 million for the quarter, compared to the consensus estimate of $327.40 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The companys revenue was down 10.4% compared to the same quarter last year. Equities research analysts predict that Range Resources Corp. will post ($0.20) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. Range Resources Corp.s dividend payout ratio (DPR) is presently -1.42%.
In other Range Resources Corp. news, Director Gregory Gene Maxwell bought 1,000 shares of Range Resources Corp. stock in a transaction that occurred on Tuesday, September 27th. The stock was acquired at an average price of $37.00 per share, for a total transaction of $37,000.00. Following the completion of the acquisition, the director now owns 12,211 shares of the companys stock, valued at approximately $451,807. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ray N. Walker, Jr. sold 13,350 shares of the stock in a transaction on Monday, September 19th. The stock was sold at an average price of $37.53, for a total transaction of $501,025.50. Following the transaction, the chief operating officer now owns 42,598 shares of the companys stock, valued at approximately $1,598,702.94. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of RRC. British Airways Pensions Investment Management Ltd acquired a new stake in Range Resources Corp. during the second quarter valued at about $23,916,000. Zurich Insurance Group Ltd FI acquired a new stake in Range Resources Corp. during the first quarter valued at about $583,000. Canada Pension Plan Investment Board boosted its stake in Range Resources Corp. by 382.5% in the first quarter. Canada Pension Plan Investment Board now owns 61,053 shares of the oil and gas exploration companys stock valued at $1,977,000 after buying an additional 48,400 shares during the period. Legal & General Group Plc boosted its stake in Range Resources Corp. by 3.6% in the first quarter. Legal & General Group Plc now owns 691,388 shares of the oil and gas exploration companys stock valued at $22,388,000 after buying an additional 24,206 shares during the period. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in Range Resources Corp. by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 43,939 shares of the oil and gas exploration companys stock valued at $1,896,000 after buying an additional 2,649 shares during the period.
Several analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Range Resources Corp. in a research report on Sunday, July 17th. Simmons started coverage on shares of Range Resources Corp. in a research report on Wednesday, July 13th. They set an overweight rating and a $52.00 price target on the stock. Imperial Capital raised shares of Range Resources Corp. from an in-line rating to an outperform rating and raised their price target for the stock from $45.00 to $55.00 in a research report on Thursday, July 14th. Zacks Investment Research lowered shares of Range Resources Corp. from a buy rating to a hold rating in a research report on Monday, August 1st. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $52.00 price target on shares of Range Resources Corp. in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. Range Resources Corp. has a consensus rating of Buy and a consensus price target of $43.84.
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