Range Resources (NYSE:RRC) Upgraded at Zacks Research

Range Resources (NYSE:RRC) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Weiss Ratings raised Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Barclays increased their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Stephens reduced their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. TD Cowen increased their price target on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, March 17th. Finally, Morgan Stanley reduced their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.41.

Range Resources Stock Down 0.2%

RRC stock opened at $40.90 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $9.64 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.72 and a beta of 0.46. The business has a 50-day moving average of $42.96 and a 200-day moving average of $38.93. Range Resources has a fifty-two week low of $32.60 and a fifty-two week high of $48.31.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.Range Resources’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, sell-side analysts anticipate that Range Resources will post 3.79 earnings per share for the current fiscal year.

Insider Transactions at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the sale, the director owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in Range Resources by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 36,619 shares of the oil and gas exploration company’s stock valued at $1,654,000 after buying an additional 758 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its stake in Range Resources by 10.3% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 185,657 shares of the oil and gas exploration company’s stock valued at $8,388,000 after buying an additional 17,325 shares during the period. Dimensional Fund Advisors LP raised its stake in Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after buying an additional 227,711 shares during the period. Balefire LLC bought a new stake in Range Resources in the first quarter valued at approximately $204,000. Finally, Parallel Advisors LLC raised its stake in Range Resources by 24.4% in the first quarter. Parallel Advisors LLC now owns 5,142 shares of the oil and gas exploration company’s stock valued at $232,000 after buying an additional 1,007 shares during the period. Institutional investors own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.