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

Range Resources (NYSE:RRC) was upgraded by investment 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.

Other research analysts have also recently issued research reports about the company. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings lowered Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Barclays dropped their price objective on Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company lowered their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Finally, Stephens raised their price target on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $43.75.

Range Resources Price Performance

RRC stock opened at $40.75 on Wednesday. The stock has a market cap of $9.52 billion, a PE ratio of 11.26 and a beta of 0.42. Range Resources has a 12 month low of $32.68 and a 12 month high of $48.31. The company has a 50-day moving average price of $38.05 and a 200 day moving average price of $40.06. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million for the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. Equities research analysts anticipate that Range Resources will post 3.49 earnings per share for the current year.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director directly owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. King Luther Capital Management Corp raised its position in Range Resources by 49.8% during the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock worth $45,202,000 after buying an additional 426,300 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after acquiring an additional 701,751 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Range Resources in the fourth quarter worth $21,129,000. B. Metzler seel. Sohn & Co. AG raised its holdings in shares of Range Resources by 101.5% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 117,879 shares of the oil and gas exploration company’s stock worth $4,156,000 after purchasing an additional 59,381 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of Range Resources by 321.3% during the first quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company’s stock worth $2,355,000 after purchasing an additional 39,745 shares during the last quarter. 98.93% of the stock is 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.