Range Resources’ (RRC) “Hold” Rating Reiterated at Benchmark

Range Resources (NYSE:RRC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Benchmark in a research report issued to clients and investors on Wednesday, Benzinga reports.

Several other research firms have also recently commented on RRC. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $31.00 in a report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company raised Range Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $39.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.12.

Range Resources Stock Up 1.6 %

Shares of NYSE:RRC opened at $31.44 on Wednesday. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market cap of $7.63 billion, a PE ratio of 15.96 and a beta of 1.80. The firm has a 50 day simple moving average of $30.23 and a 200 day simple moving average of $33.06.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same period in the previous year, the firm earned $0.43 earnings per share. Range Resources’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Range Resources will post 1.88 earnings per share for the current year.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by insiders.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Allspring Global Investments Holdings LLC grew its holdings in Range Resources by 191.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 9,243 shares during the last quarter. State of Michigan Retirement System grew its holdings in Range Resources by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 59,286 shares of the oil and gas exploration company’s stock valued at $2,041,000 after buying an additional 1,400 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in Range Resources in the 1st quarter valued at approximately $138,000. Norden Group LLC grew its holdings in Range Resources by 1,599.9% in the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock valued at $5,154,000 after buying an additional 140,891 shares during the last quarter. Finally, Warther Private Wealth LLC acquired a new stake in Range Resources in the 1st quarter valued at approximately $3,224,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

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.