Royal Bank of Canada Reiterates Sector Perform Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRCGet Free Report)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $40.00 target price on the oil and gas exploration company’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 0.89% from the stock’s current price.

Several other equities analysts also recently weighed in on RRC. Truist Financial raised their price target on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, January 3rd. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Mizuho lifted their target price on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average target price of $37.16.

View Our Latest Research Report on Range Resources

Range Resources Trading Up 1.9 %

Shares of NYSE RRC opened at $40.36 on Tuesday. Range Resources has a 1 year low of $27.29 and a 1 year high of $40.60. 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 firm has a 50-day moving average of $35.13 and a 200 day moving average of $32.42. The stock has a market cap of $9.74 billion, a P/E ratio of 20.38 and a beta of 1.81.

Range Resources (NYSE:RRCGet Free Report) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm 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 business’s revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Range Resources will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were acquired 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 directly owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.57% of the company’s stock.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in shares of Range Resources during the third quarter valued at about $25,000. Blue Trust Inc. grew its holdings 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 buying an additional 705 shares in the last quarter. Bogart Wealth LLC bought a new stake in Range Resources in the 3rd quarter worth approximately $49,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 463 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Range Resources by 276.8% during the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 1,694 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

About Range Resources

(Get Free Report)

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.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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