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 to investors on Thursday.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Stephens lifted their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. UBS Group raised their price objective on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Finally, Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.89.

Range Resources Trading Up 1.0 %

RRC opened at $39.19 on Thursday. The firm’s fifty day simple moving average is $38.52 and its 200 day simple moving average is $35.12. The stock has a market capitalization of $9.46 billion, a P/E ratio of 19.79, a P/E/G ratio of 5.11 and a beta of 1.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last issued its quarterly earnings results 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. The company had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, research analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of Range Resources during the third quarter worth approximately $25,000. Smartleaf Asset Management LLC increased its stake in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. increased its stake in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares during the period. Headlands Technologies LLC acquired a new position in Range Resources in the 4th quarter valued at $42,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Range Resources in the fourth quarter worth $46,000. Institutional investors and hedge funds 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.