Range Resources (NYSE:RRC) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Range Resources recently had its "buy (B-)" rating reaffirmed by Weiss Ratings, reflecting favorable investment prospects amidst fluctuating market conditions.
• JPMorgan and Raymond James have adjusted their price targets for Range Resources, showing a range from $41.00 to $46.00, indicating mixed sentiment among analysts.
• Range Resources’ recent earnings report revealed a beat on analysts' expectations with a revenue of $856.28 million, showcasing its strong performance in the oil and gas sector.

Range Resources (NYSE:RRC - Get Free Report)'s stock had its "buy (b-)" rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Range Resources from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Monday. Raymond James Financial decreased their price target on shares of Range Resources from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, September 19th. Scotiabank set a $46.00 price target on shares of Range Resources and gave the stock a "sector perform" rating in a report on Friday, July 11th. Barclays raised their price target on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Finally, Royal Bank Of Canada raised their price target on shares of Range Resources from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Range Resources has an average rating of "Hold" and an average price target of $41.80.

Range Resources Trading Up 0.5%

NYSE:RRC opened at $39.56 on Wednesday. Range Resources has a 52 week low of $28.99 and a 52 week high of $43.50. The firm has a 50 day moving average of $35.36 and a 200 day moving average of $36.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 0.35 and a beta of 0.51.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, sell-side analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners grew its position in Range Resources by 6.1% during the second quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company's stock valued at $301,133,000 after buying an additional 425,704 shares during the period. Lingotto Investment Management LLP grew its position in Range Resources by 2.0% during the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company's stock valued at $291,263,000 after buying an additional 138,877 shares during the period. Invesco Ltd. grew its position in Range Resources by 230.1% during the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company's stock valued at $194,644,000 after buying an additional 3,336,299 shares during the period. Qube Research & Technologies Ltd grew its position in Range Resources by 30.5% during the second quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company's stock valued at $120,050,000 after buying an additional 689,212 shares during the period. Finally, Kopernik Global Investors LLC grew its position in Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock valued at $113,667,000 after buying an additional 140,043 shares during the period. 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.

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