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

Range Resources (NYSE:RRC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities research analysts have also recently commented on the company. Stephens set a $51.00 target price on Range Resources and gave the stock an “overweight” rating in a research note on Thursday, April 3rd. 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. Piper Sandler reduced their target price on shares of Range Resources from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. Susquehanna lowered their price target on shares of Range Resources from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price objective on shares of Range Resources in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.62.

Range Resources Trading Up 1.7 %

NYSE:RRC opened at $33.18 on Wednesday. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The firm has a 50-day moving average price of $36.99 and a two-hundred day moving average price of $35.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same period last year, the business posted $0.63 earnings per share. On average, equities analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its holdings in shares of Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after acquiring an additional 355 shares in the last quarter. CIBC Asset Management Inc raised 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 in the last quarter. Commonwealth Equity Services LLC lifted its position in Range Resources by 2.8% during 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 purchasing an additional 379 shares during the last quarter. King Luther Capital Management Corp grew its stake in Range Resources by 1.3% in the 4th 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 in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Range Resources by 0.6% in the 4th quarter. Arizona State Retirement System now owns 70,258 shares of the oil and gas exploration company’s stock worth $2,528,000 after buying an additional 395 shares during the last quarter. 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.