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

Range Resources (NYSE:RRC - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Wednesday.

Several other equities analysts have also weighed in on the company. Williams Trading set a $40.00 target price on Range Resources in a report on Wednesday, March 5th. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Piper Sandler cut their target price on Range Resources from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Susquehanna cut their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. upgraded Range Resources from an "underweight" rating to a "neutral" rating and raised their target price for the company from $43.00 to $45.00 in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Range Resources has an average rating of "Hold" and a consensus target price of $41.50.

Range Resources Stock Up 1.4 %

Shares of NYSE:RRC traded up $0.48 during midday trading on Wednesday, hitting $35.27. 2,377,796 shares of the stock were exchanged, compared to its average volume of 2,452,354. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The business's fifty day simple moving average is $36.63 and its two-hundred day simple moving average is $35.81. The company has a market capitalization of $8.43 billion, a PE ratio of 17.81, a P/E/G ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the company earned $0.63 earnings per share. As a group, research analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock worth $6,830,000 after purchasing an additional 142,938 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Range Resources in the third quarter valued at $205,000. Forthright Family Wealth Advisory LLC acquired a new stake in shares of Range Resources in the third quarter valued at $445,000. JPMorgan Chase & Co. increased its stake in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after buying an additional 604,199 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after buying an additional 463 shares in the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Company Profile

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.