Royal Bank Of Canada Reiterates Sector Perform Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRC - Get Free Report)'s stock had its "sector perform" rating reissued by equities research analysts at Royal Bank Of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $45.00 target price on the oil and gas exploration company's stock. Royal Bank Of Canada's price target indicates a potential upside of 17.62% from the stock's current price.

A number of other analysts have also recently issued reports on RRC. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Scotiabank set a $46.00 target price on shares of Range Resources and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Mizuho raised their price target on shares of Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Finally, Raymond James Financial raised their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $42.79.

Range Resources Stock Performance

RRC stock traded up $0.08 during trading hours on Tuesday, reaching $38.26. The stock had a trading volume of 2,286,511 shares, compared to its average volume of 2,544,142. The stock has a market capitalization of $9.14 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $38.04. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $43.50.

Insider Transactions at Range Resources

In other Range Resources news, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the sale, the senior vice president owned 13,800 shares in the company, valued at approximately $560,556. The trade was a 40.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the completion of the transaction, the chief executive officer directly owned 58,431 shares in the company, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,080 shares of company stock worth $2,984,479. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Range Resources by 4.7% in the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company's stock worth $245,000 after purchasing an additional 270 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Range Resources by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company's stock valued at $2,981,000 after acquiring an additional 299 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares during the period. Xponance Inc. boosted its stake in shares of Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock valued at $1,099,000 after purchasing an additional 326 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Range Resources by 0.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company's stock valued at $2,636,000 after purchasing an additional 328 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.