StockNews.com Upgrades Range Resources (NYSE:RRC) to “Sell”

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

Other equities research analysts have also issued research reports about the stock. Stephens boosted their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Mizuho dropped their price target on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Susquehanna dropped their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reduced their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.00.

Range Resources Stock Down 0.6 %

RRC stock opened at $33.90 on Tuesday. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.12 and a beta of 1.80. The business’s 50 day moving average price is $30.76 and its two-hundred day moving average price is $32.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts forecast that Range Resources will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in Range Resources by 191.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock worth $485,000 after acquiring an additional 9,243 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Range Resources by 6.8% during the 1st quarter. SG Americas Securities LLC now owns 21,835 shares of the oil and gas exploration company’s stock valued at $752,000 after purchasing an additional 1,395 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Range Resources by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 493,768 shares of the oil and gas exploration company’s stock valued at $17,000,000 after buying an additional 37,753 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Range Resources during the 1st quarter valued at $418,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Range Resources by 11.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares during the period. 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.