Range Resources (NYSE:RRC) Given "Hold" Rating at Benchmark

Range Resources (NYSE:RRC - Get Free Report)'s stock had its "hold" rating reaffirmed by Benchmark in a report released on Wednesday, Benzinga reports.

Other research analysts have also issued research reports about the company. Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 17th. Mizuho reaffirmed a "buy" rating and issued a $39.00 price objective on shares of Range Resources in a report on Thursday, April 11th. Raymond James dropped their target price on shares of Range Resources from $37.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, January 24th. Susquehanna lifted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Range Resources from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.40.

Range Resources Stock Up 3.3 %

NYSE RRC traded up $1.19 during trading hours on Wednesday, reaching $37.77. 4,697,258 shares of the company traded hands, compared to its average volume of 2,571,487. The stock has a market capitalization of $9.14 billion, a PE ratio of 10.67 and a beta of 1.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources has a 12 month low of $23.92 and a 12 month high of $37.89. The company has a 50 day moving average of $33.34 and a two-hundred day moving average of $32.33.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analysts' expectations of $680.72 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company's quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. As a group, equities analysts expect that Range Resources will post 1.9 earnings per share for the current year.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Raleigh Capital Management Inc. bought a new stake in Range Resources during the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. increased its position in Range Resources by 333.0% in the 4th 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 during the period. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources during the third quarter worth approximately $27,000. Proffitt & Goodson Inc. bought a new stake in shares of Range Resources in the third quarter valued at approximately $32,000. Finally, Larson Financial Group LLC grew its stake in shares of 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 acquiring an additional 900 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.