Range Resources’ (RRC) Buy Rating Reaffirmed at Mizuho

Range Resources (NYSE:RRC)‘s stock had its “buy” rating reiterated by analysts at Mizuho in a report issued on Friday, Benzinga reports. They currently have a $41.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $39.00. Mizuho’s price target would indicate a potential upside of 9.89% from the stock’s previous close.

RRC has been the topic of a number of other reports. Royal Bank of Canada cut Range Resources from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Friday. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price objective on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Morgan Stanley boosted their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Finally, Stephens boosted their price objective on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and an average price target of $36.65.

Range Resources Trading Down 0.9 %

NYSE RRC opened at $37.31 on Friday. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83. Range Resources has a one year low of $23.92 and a one year high of $38.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.49. The business’s fifty day moving average is $33.80 and its 200-day moving average is $32.41.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. Equities research analysts predict that Range Resources will post 2 EPS for the current year.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Raleigh Capital Management Inc. purchased a new stake in Range Resources in the third quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. boosted its stake in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources in the third quarter worth approximately $27,000. Larson Financial Group LLC boosted its stake in Range Resources by 267.9% in the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares in 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.