TheStreet Lowers Range Resources (NYSE:RRC) to C

Range Resources (NYSE:RRCGet Rating) was downgraded by research analysts at TheStreet from a “b-” rating to a “c” rating in a note issued to investors on Friday, TheStreetRatingsTable reports.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Range Resources from a “hold” rating to a “sell” rating and set a $19.00 price target on the stock. in a research note on Thursday, January 6th. Mizuho upped their price target on shares of Range Resources from $24.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, April 8th. TD Securities dropped their price objective on shares of Range Resources from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, April 27th. StockNews.com initiated coverage on shares of Range Resources in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Susquehanna upped their price objective on shares of Range Resources from $24.00 to $34.00 in a report on Monday, April 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.21.

NYSE RRC opened at $26.70 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.14. Range Resources has a 52 week low of $10.90 and a 52 week high of $34.61. The firm has a market cap of $7.20 billion, a PE ratio of -55.62, a price-to-earnings-growth ratio of 0.24 and a beta of 1.99. The company has a 50 day moving average price of $29.57 and a 200 day moving average price of $23.73.

Range Resources (NYSE:RRCGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The oil and gas exploration company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.10. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. During the same quarter last year, the business posted $0.30 EPS. On average, equities research analysts anticipate that Range Resources will post 4.54 earnings per share for the current fiscal year.

Range Resources declared that its board has authorized a share buyback program on Tuesday, February 22nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas exploration company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

In other Range Resources news, SVP Dori Ginn sold 10,000 shares of the company’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $32.60, for a total transaction of $326,000.00. Following the completion of the transaction, the senior vice president now directly owns 75,098 shares in the company, valued at $2,448,194.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC raised its position in shares of Range Resources by 32.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 15,004 shares of the oil and gas exploration company’s stock valued at $456,000 after buying an additional 3,654 shares during the last quarter. Gagnon Securities LLC acquired a new stake in shares of Range Resources in the first quarter valued at about $683,000. Toronto Dominion Bank acquired a new stake in shares of Range Resources in the first quarter valued at about $4,080,000. Northwestern Mutual Investment Management Company LLC acquired a new stake in shares of Range Resources in the first quarter valued at about $1,260,000. Finally, Swiss National Bank raised its position in shares of Range Resources by 7.3% in the first quarter. Swiss National Bank now owns 583,600 shares of the oil and gas exploration company’s stock valued at $17,730,000 after buying an additional 39,900 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Range Resources Company Profile (Get Rating)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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