Range Resources (NYSE:RRC) has been given a $4.00 target price by equities research analysts at Morgan Stanley in a research note issued to investors on Monday, Stock Target Advisor reports. The firm currently has a “sell” rating on the oil and gas exploration company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 40.83% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Guggenheim downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a report on Thursday, April 25th. Cowen began coverage on shares of Range Resources in a report on Tuesday, April 9th. They issued an “outperform” rating and a $14.00 price objective on the stock. Credit Suisse Group set a $16.00 price objective on shares of Range Resources and gave the company a “buy” rating in a report on Tuesday, February 26th. Finally, Tudor Pickering downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.42.

NYSE RRC opened at $6.76 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.58 and a quick ratio of 0.54. The stock’s fifty day moving average price is $7.91. Range Resources has a 1 year low of $6.43 and a 1 year high of $18.59. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.95 and a beta of 1.08.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.12. Range Resources had a negative net margin of 54.57% and a positive return on equity of 5.23%. The firm had revenue of $748.13 million for the quarter, compared to analyst estimates of $789.65 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Range Resources will post 0.66 EPS for the current fiscal year.

In other Range Resources news, CFO Mark Scucchi purchased 11,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $9.04 per share, for a total transaction of $100,344.00. Following the completion of the purchase, the chief financial officer now owns 3,068 shares of the company’s stock, valued at approximately $27,734.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven D. Gray purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $8.77 per share, for a total transaction of $175,400.00. The disclosure for this purchase can be found here. Corporate insiders own 0.35% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in Range Resources by 21.5% in the 1st quarter. First Trust Advisors LP now owns 1,264,442 shares of the oil and gas exploration company’s stock valued at $14,212,000 after buying an additional 223,526 shares during the last quarter. B. Riley Wealth Management Inc. bought a new position in Range Resources in the 1st quarter valued at approximately $129,000. Trexquant Investment LP raised its holdings in Range Resources by 9.9% in the 1st quarter. Trexquant Investment LP now owns 415,033 shares of the oil and gas exploration company’s stock valued at $4,665,000 after buying an additional 37,283 shares during the last quarter. TCW Group Inc. bought a new position in Range Resources in the 1st quarter valued at approximately $620,000. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in Range Resources by 96.3% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 920,560 shares of the oil and gas exploration company’s stock valued at $10,347,000 after buying an additional 451,700 shares during the last quarter.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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