Range Resources (NYSE:RRC) Stock Bumped Down to “Hold” by Texas Capital

Texas Capital cut shares of Range Resources (NYSE:RRC) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.

RRC has been the subject of several other research reports. Stephens increased their target price on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Morgan Stanley set a $54.00 target price on Range Resources in a report on Tuesday. Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, Susquehanna upped their price target on Range Resources from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eighteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $45.78.

Range Resources Trading Up 4.9%

Shares of RRC opened at $56.18 on Tuesday. Range Resources has a one year low of $32.68 and a one year high of $56.47. The company’s fifty day moving average price is $41.32 and its 200 day moving average price is $40.01.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $842.83 million for the quarter, compared to the consensus estimate of $795.19 million. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities analysts predict that Range Resources will post 3.78 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 11th.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Range Resources

Several institutional investors have recently made changes to their positions in RRC. Moody Aldrich Partners LLC acquired a new position in Range Resources during the 3rd quarter worth about $255,000. Oppenheimer & Co. Inc. grew its holdings in Range Resources by 16.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,523 shares of the oil and gas exploration company’s stock worth $316,000 after acquiring an additional 1,200 shares during the last quarter. Park Avenue Securities LLC increased its position in Range Resources by 22.3% in the 3rd quarter. Park Avenue Securities LLC now owns 8,490 shares of the oil and gas exploration company’s stock valued at $314,000 after acquiring an additional 1,549 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in Range Resources by 1.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 27,078 shares of the oil and gas exploration company’s stock valued at $1,003,000 after acquiring an additional 466 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in Range Resources by 1.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 38,392 shares of the oil and gas exploration company’s stock valued at $1,422,000 after acquiring an additional 548 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Range Resources

Here are the key news stories impacting Range Resources this week:

• Positive Sentiment: Proposed EQT merger remains the main catalyst. EQT will exchange 0.987 shares of EQT stock for each Range share in a transaction expected to create a more than $50 billion natural-gas producer. The companies forecast approximately $325 million in annual synergies within two years, along with improved market access, greater scale and stronger cash-flow generation. The deal is targeted to close in the first quarter of 2027, subject to shareholder and regulatory approvals. Range Resources Surges After EQT Agrees to Buy the Company in All-Stock Deal
• Positive Sentiment: Range beat quarterly earnings expectations. Adjusted third-quarter earnings were $0.81 per diluted share, up from $0.57 a year earlier and above the Zacks consensus estimate of $0.70. GAAP net income rose 21% year over year to $175 million, while revenue increased 13% to $843 million. Range Resources Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Operating performance was strong. Record liquids production reached 133,173 barrels per day, cash flow from operations totaled $308 million, and cash flow before working-capital changes was $347 million. Cash margin increased to $1.52 per mcfe from $1.36 a year earlier, supported by higher NGL and oil realizations.
• Neutral Sentiment: Deal-related uncertainty remains. The merger depends on shareholder votes, regulatory clearances and successful integration. Because the consideration is entirely in EQT shares, Range’s implied value will continue to fluctuate with EQT’s stock price.
• Negative Sentiment: Shareholder law firms are reviewing the transaction. Kahn Swick & Foti and other firms are investigating whether the price and sale process adequately protect Range shareholders. Analysts have also questioned the strategic valuation of Range’s assets at current commodity prices. Range Resources Investor Alert

Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.