Range Resources (NYSE:RRC) Rating Reiterated by Mizuho

Range Resources (NYSE:RRC)‘s stock had its “buy” rating restated by investment analysts at Mizuho in a research note issued on Friday, Benzinga reports. They currently have a $41.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $39.00. Mizuho’s price objective would suggest a potential upside of 10.39% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler raised their price target on Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Raymond James lowered their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday. Finally, Stephens lifted their price target on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.65.

Range Resources Stock Down 1.4 %

Shares of NYSE RRC traded down $0.51 during mid-day trading on Friday, reaching $37.14. 851,029 shares of the company traded hands, compared to its average volume of 2,570,464. The company’s fifty day moving average is $33.67 and its two-hundred day moving average is $32.40. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 1.35. The stock has a market cap of $9.01 billion, a PE ratio of 18.81 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. On average, analysts expect that Range Resources will post 2 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. SYSTM Wealth Solutions LLC raised its holdings in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after buying an additional 325 shares during the last quarter. Orser Capital Management LLC increased its holdings in Range Resources by 0.8% in the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after acquiring an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its position in shares of Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares during the period. Fifth Third Bancorp raised its holdings in Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares during the period. Finally, Lmcg Investments LLC grew its holdings in Range Resources by 0.4% during the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after buying an additional 546 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.