Range Resources (NYSE:RRC) Upgraded by StockNews.com to “Sell” Rating

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

Other research analysts also recently issued reports about the company. Bank of America started coverage on Range Resources in a research note on Monday, October 28th. They issued a “neutral” rating and a $34.00 target price on the stock. Piper Sandler decreased their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Morgan Stanley decreased their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their price target on Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.00.

Range Resources Stock Performance

RRC traded down $0.69 during trading on Wednesday, hitting $35.59. 1,952,244 shares of the stock were exchanged, compared to its average volume of 2,356,005. The firm has a market capitalization of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The stock has a fifty day moving average price of $31.87 and a two-hundred day moving average price of $32.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last released its quarterly 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Range Resources will post 1.88 earnings per share for the current year.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was purchased 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 of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Aptus Capital Advisors LLC boosted its holdings in Range Resources by 135.5% in the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after purchasing an additional 64,443 shares during the last quarter. TCW Group Inc. raised its stake in Range Resources by 186.5% during the second quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock valued at $1,671,000 after buying an additional 32,433 shares in the last quarter. Mariner Investment Group LLC acquired a new stake in Range Resources during the third quarter valued at approximately $1,077,000. Vaughan Nelson Investment Management L.P. raised its stake in Range Resources by 26.2% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,186,310 shares of the oil and gas exploration company’s stock valued at $39,777,000 after buying an additional 246,172 shares in the last quarter. Finally, Boston Partners raised its stake in Range Resources by 2.1% during the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after buying an additional 133,565 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.