Range Resources (NYSE:RRC) Stock Rating Lowered by StockNews.com

Range Resources (NYSE:RRC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other research analysts have also recently issued research reports about the stock. Williams Trading set a $40.00 price target on shares of Range Resources in a report on Wednesday, March 5th. UBS Group upped their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Stephens upped their price target on shares of Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $39.95.

Range Resources Trading Up 2.1 %

Shares of RRC traded up $0.84 on Wednesday, reaching $40.48. 1,874,245 shares of the company’s stock were exchanged, compared to its average volume of 2,297,991. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.77 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The business has a 50 day moving average price of $38.47 and a two-hundred day moving average price of $34.62. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the previous year, the company earned $0.63 earnings per share. Research analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Range Resources in the 4th quarter valued at approximately $380,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources in the 3rd quarter valued at approximately $11,508,000. Calamos Advisors LLC acquired a new stake in shares of Range Resources in the 4th quarter valued at approximately $567,000. Finally, Radnor Capital Management LLC boosted its stake in shares of Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after purchasing an additional 26,213 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.