Zacks Research Upgrades Range Resources (NYSE:RRC) to Hold

Range Resources (NYSE:RRC) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

RRC has been the topic of several other research reports. Wells Fargo & Company raised their price target on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. TD Cowen boosted their price target on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday. Citigroup increased their price objective on shares of Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Barclays upped their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, UBS Group boosted their price objective on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.44.

Range Resources Trading Up 4.5%

Range Resources stock opened at $45.42 on Wednesday. Range Resources has a 1 year low of $30.32 and a 1 year high of $46.19. The firm’s 50-day moving average is $38.20 and its 200-day moving average is $37.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $10.69 billion, a P/E ratio of 16.58, a PEG ratio of 0.40 and a beta of 0.57.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Range Resources’s quarterly revenue was up 30.9% on a year-over-year basis. On average, equities analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in Range Resources by 2.1% during the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after purchasing an additional 1,563 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Range Resources by 1.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock valued at $18,639,000 after purchasing an additional 8,816 shares during the period. Focus Partners Wealth acquired a new position in shares of Range Resources during the 1st quarter valued at $285,000. ProShare Advisors LLC raised its stake in shares of Range Resources by 3.1% in the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 731 shares during the period. 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.