Range Resources (NYSE:RRC) Rating Increased to Hold at StockNews.com

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

RRC has been the topic of a number of other research reports. Barclays set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Friday, January 3rd. Piper Sandler raised their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price target on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Scotiabank lowered shares of 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.60.

Range Resources Trading Down 12.0 %

Shares of RRC opened at $33.51 on Friday. The stock’s 50-day moving average is $38.29 and its two-hundred day moving average is $35.46. The stock has a market cap of $8.09 billion, a PE ratio of 16.92, a P/E/G ratio of 5.11 and a beta of 1.73. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

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

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp grew its holdings in Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after purchasing an additional 378 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after acquiring an additional 379 shares during the period. King Luther Capital Management Corp increased its position in shares of Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock worth $1,130,000 after purchasing an additional 390 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Range Resources by 0.6% during the fourth quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company’s stock worth $2,528,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

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.