Company shares last traded at $19.04 a tad higher than the 50 day moving average of $17.82 and a great deal lower than the 200 day moving average of $23.24. The 50 day moving average went up $1.22 or +6.82% and the 200 day average went down $-4.20 or -18.08%. (NYSE:RRC) shares saw heavy trading volume with 5,151K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 33.21% over the normal average daily volume.
Investors are a little more bearish on the company lately at least if you consider the rise in short interest. The firm had a rise in short interest from August 15, 2017 to August 31, 2017 of 21.38%. Short shares increased 5,954,839 over that period. Days to cover increased 2.0 to 5.0 and the percentage of shorted shares was 0.14% on August 31.
Here is a rundown on some insider market activity for Range Resources Corporation (NYSE:RRC). Steffen E. Palko, Director disclosed the purchase of 15,000 shares. The shares were bought on August 10th for an average price of $16.81. The Director now owns $458,358 of the stock according to the SEC filing. Mary Ralph Lowe, Director purchased $179,900 worth of shares at an average price of $17.99 on August 4th. That brings Lowe’s holdings to $233,870 as reported to the SEC.
The following firms have recently changed their position in RRC. Sailingstone Capital Partners LLC added to its stake by buying 2,334,718 shares an increase of 11.9%. Sailingstone Capital Partners LLC currently owns 22,002,043 shares with a value of $509,787,000. The value of the position overall is down by 10.9%. Next Financial Group, Inc trimmed its position by shedding 535 shares a decrease of 58.8% as of 06/30/2017. Next Financial Group, Inc controls 375 shares worth $9,000,000. The total value of its holdings increased 37,400.0%.
Compagnie Lombard Odier Scma divested its investment by selling 49,920 shares a decrease of 11.4% in the quarter. Compagnie Lombard Odier Scma now controls 387,411 shares valued at $8,975,000. The total value of its holdings decreased 29.5%. As of the end of the quarter Rockshelter Capital Management LLC had acquired 81,855 shares growing its holdings by 43.6%. The value of the company’s investment in Range Resources Corporation went from $5,460,000 to $6,244,000 a change of 14.4% quarter to quarter.
On September 8, 2017 the stock rating was set at “Neutral” according to a Goldman Sachs report which is down from the previous “Buy” rating. On August 15 Citigroup kept the stock rating at “Buy” but moved down the price target to $30.00 from $34.00.
August 11 investment analysts at Baird held the company rating at “Neutral” and lowered the price expectation from $31.00 to $22.00. On August 3 Barclays made no change to the stock rating of “Underweight” and lowered the price target from $34.00 to $18.00.
On July 21 Citigroup maintained a stock rating of “Buy” and moved down the price target from $38.00 to $34.00.
In the market the company is trading down by 0.52% percent from yesterday’s close. The company also recently announced a dividend that was paid on Friday June 30th, 2017. The dividend payment was $0.020 per share for the quarter or $0.08 annualized. The dividend yield was $0.43. The ex-dividend date was set for Thursday the 14th of September 2017.
The company currently has a P/E ratio of 128.65 and market capitalization is 4.65B. As of the latest earnings report the EPS was $0.15 and is expected to be $0.51 for the current year with 244,030,000 shares outstanding. Next quarter’s EPS is forecasted at $0.16 with next year’s EPS anticipated to be $0.68.
Range Resources Corporation, launched on March 26, 1980, is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is involved in the exploration and production of natural gas, NGLs and oil in the United States. The Company is involved 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. Its principal areas of operation are the Marcellus Shale of Pennsylvania and the Lower Cotton Valley formation of North Louisiana. Its properties consist of interests in developed and undeveloped natural gas and oil leases..