Range Resources (NYSE:RRC) Stock Rating Reaffirmed by Mizuho

Range Resources (NYSE:RRC)‘s stock had its “buy” rating reaffirmed by research analysts at Mizuho in a research note issued on Friday, Benzinga reports. They currently have a $41.00 price target on the oil and gas exploration company’s stock, up from their previous price target of $39.00. Mizuho’s price objective points to a potential upside of 9.89% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Raymond James cut their price target on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Stifel Nicolaus lifted their price target on shares of Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Finally, Barclays assumed coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price target on the stock. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $36.65.

Range Resources Stock Down 0.9 %

Range Resources stock opened at $37.31 on Friday. The company’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $32.41. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.49.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue was down 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Range Resources will post 2 EPS for the current year.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners boosted its position in Range Resources by 1,858.7% during the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after purchasing an additional 6,070,900 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after acquiring an additional 90,028 shares during the period. Invesco Ltd. boosted its position in shares of Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after acquiring an additional 693,970 shares during the period. Kopernik Global Investors LLC boosted its position in shares of Range Resources by 2.7% in the fourth quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after acquiring an additional 82,095 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Range Resources by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock valued at $54,208,000 after acquiring an additional 64,810 shares during the period. 98.93% of the stock is owned by institutional investors.

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.