Range Resources (NYSE:RRC) Receives Buy Rating from Mizuho

Range Resources (NYSE:RRC - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Mizuho in a research note issued to investors on Friday, Benzinga reports. They presently have a $41.00 price objective on the oil and gas exploration company's stock, up from their prior price objective of $39.00. Mizuho's price target suggests a potential upside of 9.86% from the company's previous close.

A number of other research firms have also recently commented on RRC. Stifel Nicolaus lifted their price objective on Range Resources from $36.00 to $39.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank of Canada downgraded shares of Range Resources from an "outperform" rating to a "sector perform" rating and lifted their price target for the stock from $36.00 to $39.00 in a report on Friday. Truist Financial reduced their price objective on shares of Range Resources from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, April 5th. Piper Sandler lifted their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. Finally, Barclays began coverage on Range Resources in a research note on Wednesday, April 10th. They set an "underweight" rating and a $35.00 price target on the stock. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Range Resources currently has an average rating of "Hold" and an average price target of $36.65.

Range Resources Price Performance

Shares of RRC stock traded down $0.33 during midday trading on Friday, reaching $37.32. 2,583,140 shares of the company traded hands, compared to its average volume of 2,592,411. The firm's 50 day simple moving average is $33.80 and its two-hundred day simple moving average is $32.42. The firm has a market cap of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.49. Range Resources has a 1-year low of $23.92 and a 1-year high of $38.25.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the previous year, the company posted $0.96 EPS. The business's revenue was down 15.7% on a year-over-year basis. On average, equities research analysts expect that Range Resources will post 2 EPS for the current fiscal year.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now owns 22,370 shares of the company's stock, valued at $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raleigh Capital Management Inc. purchased a new position in Range Resources in the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Range Resources by 333.0% during 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 last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Range Resources during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC grew its position in shares of Range Resources by 267.9% in the 3rd 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 in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company's stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

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.