Range Resources (NYSE:RRC) Downgraded by StockNews.com to Sell

Range Resources (NYSE:RRC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently weighed in on RRC. Piper Sandler raised their price target on Range Resources from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Raymond James raised their price objective on Range Resources from $46.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. UBS Group increased their price target on shares of Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price objective on shares of Range Resources in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.85.

Range Resources Stock Up 0.7%

Range Resources stock opened at $39.72 on Wednesday. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. 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’s 50-day simple moving average is $36.64 and its 200 day simple moving average is $36.55. The stock has a market cap of $9.49 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60.

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

Insiders Place Their Bets

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer now owns 58,431 shares in the company, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James M. Funk sold 13,582 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,880 shares of company stock worth $2,815,807. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Range Resources

Institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in shares of Range Resources during the first quarter worth $33,000. Smartleaf Asset Management LLC raised its stake in Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares during the period. Bessemer Group Inc. lifted its holdings in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Range Resources in the first quarter valued at about $39,000. Finally, UMB Bank n.a. increased its holdings in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds 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.