Range Resources (NYSE:RRC) Stock Rating Upgraded by StockNews.com

Range Resources (NYSE:RRC) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued on Tuesday.

Several other research analysts also recently issued reports on RRC. Morgan Stanley dropped their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. Benchmark restated a “hold” rating on shares of Range Resources in a research note on Wednesday, October 23rd. Piper Sandler cut Range Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Stephens boosted their target price on Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $35.00.

Range Resources Stock Down 1.1 %

Shares of Range Resources stock traded down $0.37 during midday trading on Tuesday, hitting $34.09. The company had a trading volume of 2,262,554 shares, compared to its average volume of 2,359,580. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $8.23 billion, a P/E ratio of 17.22 and a beta of 1.80. The company has a 50 day moving average of $30.54 and a 200 day moving average of $32.66.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts predict that Range Resources will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G. Griffie acquired 1,275 shares of the stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Blue Trust Inc. increased its holdings in Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new position in Range Resources during the third quarter valued at approximately $49,000. Fifth Third Bancorp grew its holdings in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co bought a new stake in Range Resources in the 2nd quarter worth approximately $67,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Range Resources during the 2nd quarter worth approximately $67,000. Institutional investors own 98.93% of the company’s stock.

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.