Range Resources (NYSE:RRC) Stock Rating Lowered by Wells Fargo & Company

Range Resources (NYSE:RRC) was downgraded by research analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Morgan Stanley cut their price target on Range Resources from $44.00 to $42.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. UBS Group boosted their price objective on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Range Resources in a research report on Monday, December 29th. Finally, Mizuho raised their target price on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.95.

Range Resources Stock Up 0.6%

Shares of NYSE:RRC opened at $33.66 on Monday. The company’s fifty day moving average is $36.79 and its two-hundred day moving average is $36.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources has a 1-year low of $30.32 and a 1-year high of $43.50. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 0.22 and a beta of 0.51.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $655.30 million during the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities analysts anticipate that Range Resources will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Orser Capital Management LLC increased its holdings in shares of Range Resources by 3.7% during the fourth quarter. Orser Capital Management LLC now owns 46,102 shares of the oil and gas exploration company’s stock valued at $1,626,000 after purchasing an additional 1,645 shares during the period. DAVENPORT & Co LLC acquired a new stake in Range Resources in the fourth quarter worth about $10,524,000. Congress Asset Management Co. grew its position in Range Resources by 13.9% in the 4th quarter. Congress Asset Management Co. now owns 614,071 shares of the oil and gas exploration company’s stock valued at $21,652,000 after buying an additional 74,786 shares in the last quarter. SG Americas Securities LLC grew its position in Range Resources by 101.2% in the 4th quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company’s stock valued at $2,351,000 after buying an additional 33,544 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Range Resources during the 4th quarter valued at about $37,820,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.