Range Resources (NYSE:RRC) Rating Increased to Neutral at UBS Group

Range Resources (NYSE:RRC) was upgraded by stock analysts at UBS Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a $35.00 price target on the oil and gas exploration company’s stock. UBS Group’s target price indicates a potential upside of 3.70% from the company’s previous close.

Several other analysts have also weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a research report on Tuesday, August 20th. Morgan Stanley reduced their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Susquehanna lowered their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group lowered their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and an average price target of $35.50.

Range Resources Stock Down 2.2 %

Shares of NYSE:RRC opened at $33.75 on Monday. The firm has a market cap of $8.14 billion, a PE ratio of 17.05 and a beta of 1.85. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a fifty day simple moving average of $32.57 and a 200 day simple moving average of $32.41.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. On average, equities research analysts anticipate that Range Resources will post 1.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,275 shares of the firm’s stock in a transaction 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 directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following 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 corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RRC. HITE Hedge Asset Management LLC acquired a new position in Range Resources in the 3rd quarter valued at approximately $11,508,000. Charles Schwab Investment Management Inc. raised its position in Range Resources by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after purchasing an additional 92,217 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in Range Resources by 135.5% during 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 in the last quarter. TCW Group Inc. raised its holdings in shares of Range Resources by 186.5% in the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock worth $1,671,000 after buying an additional 32,433 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Range Resources by 32.5% in the 3rd quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after buying an additional 16,134 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.