Range Resources (NYSE:RRC) Upgraded at Zacks Research

Key Points

• Range Resources was upgraded by Zacks Research from “hold” to “strong-buy”, adding to a string of recent analyst actions that have mostly been mixed but include several upgrades and higher price targets.
• The company reported better-than-expected quarterly results, with EPS of $1.52 versus estimates of $1.25 and revenue of $1.07 billion versus expectations of $898.2 million, while revenue jumped 49.8% year over year.
• Despite the positive earnings and upgrade, the stock was down 0.2% on Monday and the consensus analyst view remains “Hold” with an average price target of $43.41.

Range Resources (NYSE:RRC - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

RRC has been the subject of a number of other research reports. Weiss Ratings upgraded Range Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Freedom Capital upgraded Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Bank of America upped their price objective on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Wells Fargo & Company upped their price objective on Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, February 26th. Finally, TD Cowen upped their price objective on Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.41.

Range Resources Trading Down 0.2%

NYSE RRC opened at $40.90 on Monday. The stock has a 50-day simple moving average of $42.96 and a 200 day simple moving average of $38.93. The company has a market capitalization of $9.64 billion, a PE ratio of 10.82, a P/E/G ratio of 0.72 and a beta of 0.46. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. Range Resources has a 12 month low of $32.60 and a 12 month high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm's revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Research analysts forecast that Range Resources will post 3.79 EPS for the current year.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares of the company's stock, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in Range Resources by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company's stock valued at $975,311,000 after acquiring an additional 326,748 shares during the period. Vanguard Group Inc. boosted its position in shares of Range Resources by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company's stock worth $901,021,000 after buying an additional 701,751 shares during the period. Boston Partners boosted its position in shares of Range Resources by 14.0% during the fourth quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company's stock worth $474,585,000 after buying an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company's stock worth $415,354,000 after buying an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC boosted its position in shares of Range Resources by 18.5% during the fourth quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company's stock worth $184,724,000 after buying an additional 818,295 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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