Range Resources Corporation (NYSE:RRC) Given Average Rating of “Hold” by Brokerages

Shares of Range Resources Corporation (NYSE:RRC) have been assigned an average rating of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $41.2941.

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Mizuho lifted their price target on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Bank of America reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. Zacks Research cut Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th.

Range Resources Price Performance

RRC stock opened at $41.29 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $36.14 and its 200-day moving average is $36.37. The stock has a market capitalization of $9.72 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. Range Resources has a 1 year low of $30.32 and a 1 year high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. During the same period in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares during the last quarter. Invesco Ltd. lifted its holdings in Range Resources by 230.1% during the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after acquiring an additional 3,336,299 shares during the period. AQR Capital Management LLC boosted its position in Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the last quarter. Holocene Advisors LP bought a new position in Range Resources in the 3rd quarter valued at $66,560,000. Finally, UBS Group AG increased its position in shares of Range Resources by 66.3% during the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after purchasing an additional 1,430,477 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.