Benchmark Reiterates “Hold” Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRC)‘s stock had its “hold” rating restated by stock analysts at Benchmark in a report issued on Wednesday, Benzinga reports.

Several other equities research analysts have also recently weighed in on RRC. Piper Sandler upped their target price on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Raymond James lowered their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus upped their target price on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday. Mizuho reiterated a “buy” rating and set a $39.00 price target on shares of Range Resources in a research note on Thursday, April 11th. Finally, Susquehanna boosted their price target on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Trading Up 3.2 %

Shares of Range Resources stock traded up $1.18 on Wednesday, reaching $37.76. The company had a trading volume of 1,543,617 shares, compared to its average volume of 2,526,863. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 10.50 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s 50-day moving average price is $33.34 and its two-hundred day moving average price is $32.33. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business earned $0.96 EPS. Range Resources’s revenue was down 15.7% compared to the same quarter last year. As a group, research analysts predict that Range Resources will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners lifted its position in shares of Range Resources by 1,858.7% in the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after acquiring an additional 6,070,900 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Invesco Ltd. lifted 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 in the last quarter. Kopernik Global Investors LLC lifted its position in Range Resources by 2.7% during the fourth quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock worth $94,562,000 after buying an additional 82,095 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Range Resources by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock worth $54,208,000 after buying an additional 64,810 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

About Range Resources

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.