Range Resources (NYSE:RRC) Stock Rating Upgraded by Wolfe Research

Range Resources (NYSE:RRC) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage presently has a $42.00 price target on the oil and gas exploration company’s stock. Wolfe Research’s price target points to a potential upside of 16.50% from the company’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company upped their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho raised their price target on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Royal Bank of Canada raised their target price on shares of Range Resources from $35.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, November 25th. Finally, StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.32.

Range Resources Stock Up 0.2 %

NYSE:RRC opened at $36.05 on Friday. The firm has a 50-day simple moving average of $34.04 and a two-hundred day simple moving average of $32.25. The firm has a market cap of $8.70 billion, a P/E ratio of 18.21 and a beta of 1.85. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. Analysts predict that Range Resources will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently modified their holdings of RRC. Brooklyn Investment Group purchased a new position in Range Resources in the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its holdings in Range Resources by 107.8% in 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 in the last quarter. Versant Capital Management Inc raised its stake in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 463 shares in the last quarter. Bogart Wealth LLC acquired a new stake in Range Resources in the third quarter valued at $49,000. Finally, CWM LLC boosted its position in 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 purchasing an additional 1,694 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.