StockNews.com Upgrades Range Resources (NYSE:RRC) to Hold

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

Several other equities analysts have also recently weighed in on RRC. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Barclays set a $43.00 price objective on Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Finally, Mizuho upped their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.60.

Range Resources Stock Down 12.0 %

NYSE:RRC opened at $33.51 on Friday. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The stock has a 50-day moving average price of $38.29 and a two-hundred day moving average price of $35.54. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

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

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently bought and sold shares of RRC. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 471 shares in the last quarter. UMB Bank n.a. grew its position in Range Resources by 59.0% during 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 buying an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new position in Range Resources during the 4th quarter worth $42,000. Geneos Wealth Management Inc. acquired a new position in Range Resources in the 4th quarter valued at $46,000. Finally, Versant Capital Management Inc lifted its position in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is owned by institutional investors.

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.