Roth Capital Upgrades Range Resources (NYSE:RRC) to Strong-Buy

Range Resources (NYSE:RRC) was upgraded by stock analysts at Roth Capital from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

RRC has been the subject of a number of other research reports. Scotiabank lowered 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 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 report on Thursday, February 27th. Stephens set a $51.00 target price on Range Resources and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Finally, Roth Mkm raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $42.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and an average price target of $41.71.

Range Resources Trading Up 7.8 %

RRC opened at $34.60 on Tuesday. The company has a fifty day moving average of $37.89 and a 200-day moving average of $35.56. The stock has a market cap of $8.35 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, sell-side analysts predict that Range Resources will post 2.02 EPS for the current year.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new position in shares of Range Resources during the first quarter worth about $218,000. Harbor Investment Advisory LLC purchased a new stake in shares of Range Resources during the first quarter worth about $799,000. 180 Wealth Advisors LLC bought a new position in Range Resources during the 1st quarter valued at $214,000. Doliver Advisors LP bought a new position in shares of Range Resources during the first quarter worth about $315,000. Finally, GAMMA Investing LLC lifted its holdings in Range Resources by 5,122.5% in the first quarter. GAMMA Investing LLC now owns 229,318 shares of the oil and gas exploration company’s stock worth $9,157,000 after acquiring an additional 224,927 shares during 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.