Range Resources (NYSE:RRC) Stock Rating Upgraded by StockNews.com

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

RRC has been the subject of a number of other reports. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a report on Friday, January 17th. Mizuho boosted their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Piper Sandler boosted their price target on shares of Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Truist Financial lifted their price objective on shares of Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Range Resources Trading Down 2.4 %

NYSE:RRC traded down $0.98 on Thursday, reaching $38.86. 2,023,594 shares of the company’s stock were exchanged, compared to its average volume of 2,306,482. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $38.56 and a 200-day moving average of $35.05.

Range Resources (NYSE:RRC) last announced its earnings results 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 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 earned $0.63 EPS. As a group, analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. M&T Bank Corp increased its holdings in shares of 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 acquiring an additional 327 shares during the period. Commerce Bank increased its stake in Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the period. CIBC Asset Management Inc increased its stake in Range Resources by 5.4% in 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 during the period. Commonwealth Equity Services LLC raised its holdings in shares of 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 buying an additional 379 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Range Resources by 1.3% during the fourth 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 buying an additional 390 shares during the period. Hedge funds and other institutional investors 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.