Range Resources (NYSE:RRC) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Range Resources from a "strong sell" to a "hold," reflecting a reduction in negative analyst sentiment toward the stock.
• The firm has an overall consensus rating of "Hold" (4 Buys, 13 Holds, 1 Sell) with a 12‑month consensus target price of $42.44.
• Range recently beat quarterly estimates with $0.82 EPS vs. $0.69 expected and $786.9M revenue vs. $770.9M expected; the stock trades near $45.42 with a market cap of about $10.7B and a P/E of 16.6.

Range Resources (NYSE:RRC - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on the company. Weiss Ratings raised Range Resources from a "hold (c)" rating to a "buy (b)" rating in a research note on Friday, February 27th. Morgan Stanley cut their price objective on shares of Range Resources from $42.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, January 23rd. Piper Sandler lifted their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. Royal Bank Of Canada decreased their price objective on Range Resources from $46.00 to $44.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 14th. Finally, TD Cowen lifted their price target on Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $42.44.

Range Resources Stock Performance

Shares of RRC opened at $45.42 on Wednesday. Range Resources has a 12-month low of $30.32 and a 12-month high of $46.19. The stock has a market cap of $10.69 billion, a P/E ratio of 16.58, a PEG ratio of 0.40 and a beta of 0.57. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $38.20 and a two-hundred day moving average of $37.19.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company's quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. As a group, research analysts predict that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in shares of Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock worth $3,029,000 after buying an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Range Resources by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company's stock worth $18,639,000 after purchasing an additional 8,816 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Range Resources during the first quarter worth about $285,000. ProShare Advisors LLC grew its stake in Range Resources by 3.1% in the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company's stock worth $431,000 after purchasing an additional 315 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company's stock valued at $45,000 after buying an additional 731 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

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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