StockNews.com Upgrades Range Resources (NYSE:RRC) to “Hold”

Range Resources (NYSE:RRC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Other research analysts have also issued reports about the company. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research note on Friday, January 17th. Barclays set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Truist Financial lifted their target price on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, March 17th. Finally, Morgan Stanley upgraded Range Resources from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $49.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.89.

Range Resources Price Performance

Shares of Range Resources stock opened at $39.19 on Thursday. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $9.46 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The firm’s 50-day simple moving average is $38.52 and its 200-day simple moving average is $35.12.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the previous year, the business earned $0.63 earnings per share. As a group, research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners raised its holdings in Range Resources by 4.9% in the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after purchasing an additional 371,777 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after buying an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP raised its stake in Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after buying an additional 165,242 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after acquiring an additional 2,104,304 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

About Range Resources

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.