Equities researchers at Sanford C. Bernstein began coverage on shares of Range Resources (NYSE:RRC – Get Free Report) in a research note issued on Tuesday, FlyOnTheWall reports. The firm set a “market perform” rating on the oil and gas exploration company’s stock.
A number of other analysts have also recently commented on RRC. Truist Financial upped their price target on Range Resources from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, September 11th. Mizuho boosted their price objective on Range Resources from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, September 13th. Stifel Nicolaus boosted their price objective on Range Resources from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, UBS Group boosted their price objective on Range Resources from $24.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.05.
Range Resources Trading Down 1.2 %
Shares of RRC stock traded down $0.40 on Tuesday, reaching $34.15. The company had a trading volume of 3,833,911 shares, compared to its average volume of 3,918,303. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.22 billion, a PE ratio of 4.97, a PEG ratio of 0.60 and a beta of 2.09. The company has a 50-day moving average of $32.01 and a 200-day moving average of $29.20. Range Resources has a 12 month low of $22.61 and a 12 month high of $34.98.
Range Resources (NYSE:RRC – Get Free Report) last announced its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $567.67 million. Range Resources had a return on equity of 31.85% and a net margin of 37.22%. Range Resources’s revenue was down 48.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. On average, equities analysts forecast that Range Resources will post 1.93 earnings per share for the current year.
Institutional Investors Weigh In On Range Resources
A number of large investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Range Resources by 8.8% in the 1st quarter. FMR LLC now owns 28,963,656 shares of the oil and gas exploration company’s stock valued at $766,668,000 after acquiring an additional 2,334,862 shares during the period. Vanguard Group Inc. raised its stake in Range Resources by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company’s stock valued at $634,920,000 after acquiring an additional 111,026 shares during the period. Exor Capital LLP increased its position in Range Resources by 9.7% during the 1st quarter. Exor Capital LLP now owns 6,963,163 shares of the oil and gas exploration company’s stock worth $184,315,000 after buying an additional 616,000 shares during the period. Dimensional Fund Advisors LP increased its position in Range Resources by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,184,171 shares of the oil and gas exploration company’s stock worth $181,816,000 after buying an additional 174,385 shares during the period. Finally, Renaissance Technologies LLC increased its position in Range Resources by 55.5% during the 1st quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock worth $106,067,000 after buying an additional 1,429,500 shares during the period. Institutional investors own 94.73% of the company’s stock.
About Range Resources
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.