Range Resources (NYSE:RRC) Given “Sector Perform” Rating at Royal Bank of Canada

Range Resources (NYSE:RRC)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $42.00 price target on the oil and gas exploration company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 29.93% from the company’s current price.

A number of other research analysts have also commented on RRC. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Friday, January 3rd. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group boosted their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.81.

Range Resources Price Performance

NYSE RRC traded up $0.08 during trading hours on Friday, hitting $32.33. The company had a trading volume of 511,620 shares, compared to its average volume of 2,413,568. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 5.11 and a beta of 1.73. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The firm has a 50 day simple moving average of $37.79 and a 200 day simple moving average of $35.57.

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

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of RRC. Boston Partners raised its holdings in shares of Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock valued at $287,078,000 after acquiring an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares during the period. Lingotto Investment Management LLP increased its position in Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after purchasing an additional 165,242 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after purchasing an additional 35,344 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.