Range Resources (NYSE:RRC) Rating Increased to Outperform at Wolfe Research

Range Resources (NYSE:RRC) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a $42.00 price target on the oil and gas exploration company’s stock. Wolfe Research’s price objective suggests a potential upside of 16.96% from the stock’s previous close.

RRC has been the topic of a number of other reports. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $35.00 in a report on Monday, December 9th. Royal Bank of Canada increased their price objective on shares of Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, November 25th. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. StockNews.com upgraded Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Finally, Mizuho raised their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.32.

Range Resources Stock Down 0.4 %

RRC opened at $35.91 on Friday. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.14 and a beta of 1.81. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50-day moving average of $34.13 and a two-hundred day moving average of $32.24.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. On average, research analysts expect that Range Resources will post 1.91 earnings per share for the current year.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Range Resources

A number of institutional investors have recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of Range Resources during the 3rd quarter worth approximately $25,000. Blue Trust Inc. boosted its stake in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the period. Versant Capital Management Inc increased its stake in shares of Range Resources by 42.8% in the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares during the period. Bogart Wealth LLC bought a new stake in shares of Range Resources during the third quarter valued at approximately $49,000. Finally, CWM LLC boosted its position in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 1,694 shares during the period. 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.