Benchmark Reiterates Hold Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRC)‘s stock had its “hold” rating restated by equities research analysts at Benchmark in a report released on Wednesday, Benzinga reports.

Other analysts have also recently issued research reports about the company. Piper Sandler upped their price objective on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Raymond James decreased their price target on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays started coverage on shares of Range Resources in a research report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Price Performance

Shares of NYSE:RRC opened at $37.69 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83. The business has a 50-day simple moving average of $33.67 and a two-hundred day simple moving average of $32.40. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.21. The firm had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. On average, analysts expect that Range Resources will post 1.99 earnings per share for the current year.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in the company. Orser Capital Management LLC raised its holdings in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after acquiring an additional 427 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its stake in Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares in the last quarter. Fifth Third Bancorp lifted its position in Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares during the last quarter. Lmcg Investments LLC grew its stake in shares of Range Resources by 0.4% in the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after buying an additional 546 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Range Resources by 2.0% in the 4th quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 579 shares during the last quarter. Hedge funds and other institutional investors 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.