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

Range Resources (NYSE:RRC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

RRC has been the subject of several other reports. Williams Trading set a $40.00 target price on Range Resources in a research note on Wednesday, March 5th. The Goldman Sachs Group raised their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a report on Friday, January 17th. Finally, Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus target price of $39.95.

Range Resources Trading Up 2.1 %

Shares of RRC traded up $0.84 during trading hours on Wednesday, hitting $40.48. The stock had a trading volume of 1,874,245 shares, compared to its average volume of 2,297,991. 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 firm has a market cap of $9.77 billion, a P/E ratio of 20.44, a P/E/G ratio of 5.11 and a beta of 1.80. The company’s fifty day simple moving average is $38.47 and its 200 day simple moving average is $34.62. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the company posted $0.63 EPS. Equities research analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock valued at $287,078,000 after purchasing an additional 371,777 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares during the last quarter. Lingotto Investment Management LLP raised its stake in shares of Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after acquiring an additional 165,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after acquiring an additional 2,104,304 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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.