Range Resources (NYSE:RRC) Stock Rating Lowered by StockNews.com

Range Resources (NYSE:RRC) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on the stock. Mizuho increased their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. UBS Group increased their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Stephens raised their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.95.

Range Resources Trading Down 0.6 %

NYSE RRC opened at $40.26 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The company’s 50-day moving average price is $38.53 and its 200-day moving average price is $34.66. The stock has a market cap of $9.72 billion, a PE ratio of 20.33, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same period in the prior year, the business earned $0.63 EPS. Equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Range Resources during the 4th quarter worth approximately $380,000. HITE Hedge Asset Management LLC purchased a new position in Range Resources during the 3rd quarter worth approximately $11,508,000. Calamos Advisors LLC purchased a new position in Range Resources during the 4th quarter worth approximately $567,000. Finally, Radnor Capital Management LLC raised its position in Range Resources by 156.2% during the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock worth $1,547,000 after buying an additional 26,213 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

About Range Resources

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.