Range Resources (NYSE:RRC) Stock Rating Upgraded by TD Cowen

Range Resources (NYSE:RRC) was upgraded by equities research analysts at TD Cowen to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research firms also recently issued reports on RRC. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $39.00 price objective (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. UBS Group lifted their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Mizuho upped their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.22.

Range Resources Stock Performance

Shares of Range Resources stock opened at $35.80 on Monday. The business has a 50-day simple moving average of $35.75 and a 200 day simple moving average of $36.09. Range Resources has a one year low of $30.32 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.33 and a beta of 0.58.

Institutional Trading of Range Resources

A number of hedge funds have recently bought and sold shares of RRC. Hantz Financial Services Inc. grew its stake in Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after purchasing an additional 703 shares during the period. True Wealth Design LLC boosted its holdings in shares of Range Resources by 116.3% in the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 541 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Range Resources during the second quarter worth about $45,000. Finally, Allworth Financial LP increased its holdings in Range Resources by 196.5% during the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.