Range Resources (NYSE:RRC) Stock Rating Reaffirmed by Benchmark

Range Resources (NYSE:RRC)‘s stock had its “hold” rating reissued by stock analysts at Benchmark in a note issued to investors on Wednesday, Benzinga reports.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company upgraded Range Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $39.00 in a research report on Tuesday, October 1st. Susquehanna dropped their price objective on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research began coverage on shares of Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.12.

Range Resources Stock Performance

Range Resources stock traded up $0.65 during trading on Wednesday, hitting $30.55. The stock had a trading volume of 2,975,683 shares, compared to its average volume of 2,347,531. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $30.19 and its two-hundred day moving average is $33.09. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 15.60 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, analysts predict that Range Resources will post 1.88 EPS for the current year.

Insiders Place Their Bets

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RRC. Price T Rowe Associates Inc. MD boosted its holdings in shares of Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after buying an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after acquiring an additional 959,011 shares in the last quarter. Boston Partners grew its position in Range Resources by 2.1% during the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP raised its holdings in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after buying an additional 93,782 shares during the last quarter. Finally, KGH Ltd grew its holdings in shares of Range Resources by 3.2% during the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after buying an additional 190,000 shares during the last quarter. 98.93% of the stock is currently owned by 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.