ValuEngine Upgrades Range Resources (RRC) to Hold

Range Resources (NYSE:RRC) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

RRC has been the subject of a number of other research reports. Robert W. Baird reduced their price objective on Range Resources from $29.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, August 11th. Morgan Stanley reduced their price objective on Range Resources from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, October 26th. Jefferies Group set a $36.00 price target on Range Resources and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Scotiabank reaffirmed a “buy” rating and issued a $30.00 price target on shares of Range Resources in a research report on Monday, October 9th. Finally, BMO Capital Markets set a $30.00 price target on Range Resources and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.76.

Range Resources (NYSE RRC) traded up $0.48 on Friday, reaching $18.50. The company had a trading volume of 6,942,205 shares, compared to its average volume of 6,087,611. The firm has a market capitalization of $4,471.47, a PE ratio of 50.06 and a beta of 0.91. Range Resources has a 52-week low of $15.99 and a 52-week high of $39.64. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) earnings per share. research analysts forecast that Range Resources will post 0.48 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its stake in shares of Range Resources by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock worth $117,000 after purchasing an additional 64 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Range Resources by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the oil and gas exploration company’s stock worth $271,000 after purchasing an additional 100 shares during the period. Retirement Systems of Alabama increased its stake in shares of Range Resources by 0.3% in the second quarter. Retirement Systems of Alabama now owns 91,236 shares of the oil and gas exploration company’s stock worth $2,114,000 after purchasing an additional 305 shares during the period. M&T Bank Corp increased its stake in shares of Range Resources by 1.3% in the second quarter. M&T Bank Corp now owns 27,472 shares of the oil and gas exploration company’s stock worth $639,000 after purchasing an additional 360 shares during the period. Finally, Stephens Inc. AR increased its stake in shares of Range Resources by 5.6% in the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock worth $179,000 after purchasing an additional 412 shares during the period. Institutional investors and hedge funds own 95.72% of the company’s stock.

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About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Range Resources (NYSE:RRC)

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