TheStreet Upgrades Range Resources Corp. to Buy (RRC)
Range Resources Corp. (NYSE:RRC) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Analyst RN reports.
The analysts wrote, “Range Resources Corporation (RRC) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Range Resources Corp. (NYSE:RRC) traded up 2.14% on Thursday, hitting $86.76. 1,833,102 shares of the company’s stock traded hands. Range Resources Corp. has a one year low of $71.14 and a one year high of $90.76. The stock’s 50-day moving average is $85.05 and its 200-day moving average is $79.63. The company has a market cap of $13.869 billion and a P/E ratio of 99.11.
Range Resources Corp. (NYSE:RRC) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $461.00 million for the quarter, compared to the consensus estimate of $459.87 million. Analysts expect that Range Resources Corp. will post $1.87 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated a “positive” rating on shares of Range Resources Corp. in a research note on Wednesday. Separately, analysts at Sanford C. Bernstein upgraded shares of Range Resources Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $99.00 price target on the stock, up previously from $90.00. Finally, analysts at Sanford C. Bernstein downgraded shares of Range Resources Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 20th. They now have a $90.00 price target on the stock, down previously from $99.00. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Range Resources Corp. has a consensus rating of “Buy” and a consensus price target of $89.79.
Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids and oil company, engaged in the exploration, development and acquisition of natural gas and oil properties, mostly in the Appalachian and Southwestern regions of the United States.
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