Range Resources (NYSE:RRC) Earns “Hold” Rating from Benchmark

Range Resources (NYSE:RRC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. Piper Sandler lowered their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Wells Fargo & Company raised their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a research report on Friday. Finally, Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.16.

Range Resources Trading Down 0.5 %

Range Resources stock opened at $41.09 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 20.75 and a beta of 1.81. Range Resources has a one year low of $27.29 and a one year high of $41.65. The company’s fifty day moving average price is $35.62 and its two-hundred day moving average price is $32.58.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, analysts forecast that Range Resources will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Range Resources

Several hedge funds have recently modified their holdings of the company. M&T Bank Corp increased its holdings in shares of Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after buying an additional 327 shares in the last quarter. Commerce Bank increased its holdings in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after buying an additional 369 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Range Resources by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after buying an additional 420 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares in the last quarter. Finally, Inscription Capital LLC increased its holdings in shares of Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after buying an additional 433 shares in the last quarter. Institutional investors and hedge funds 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.