Range Resources (NYSE:RRC – Get Rating) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.
Several other equities analysts also recently commented on RRC. Piper Sandler raised shares of Range Resources from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $23.00 to $49.00 in a research note on Thursday, April 21st. Truist Financial increased their price target on shares of Range Resources from $33.00 to $37.00 in a research note on Thursday, April 21st. Susquehanna increased their price target on shares of Range Resources from $24.00 to $34.00 in a research note on Monday, April 25th. Wells Fargo & Company raised their target price on shares of Range Resources from $34.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, March 14th. Finally, TD Securities decreased their target price on shares of Range Resources from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given 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 $30.21.
Shares of NYSE:RRC opened at $26.70 on Friday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -55.62, a price-to-earnings-growth ratio of 0.24 and a beta of 1.99. The company has a 50-day moving average price of $29.57 and a 200-day moving average price of $23.73. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 1.14. Range Resources has a 12 month low of $10.90 and a 12 month high of $34.61.
Range Resources (NYSE:RRC – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The oil and gas exploration company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.08 by $0.10. Range Resources had a negative net margin of 2.90% and a positive return on equity of 45.50%. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, research analysts forecast that Range Resources will post 4.54 EPS for the current fiscal year.
Range Resources announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 22nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas exploration company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Range Resources news, SVP Dori Ginn sold 10,000 shares of Range Resources stock in a transaction on Friday, April 8th. The shares were sold at an average price of $32.60, for a total value of $326,000.00. Following the sale, the senior vice president now directly owns 75,098 shares in the company, valued at approximately $2,448,194.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.
Large investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC purchased a new position in shares of Range Resources in the 3rd quarter worth $25,000. Confluence Wealth Services Inc. purchased a new position in shares of Range Resources during the 4th quarter worth about $35,000. Exchange Traded Concepts LLC boosted its stake in shares of Range Resources by 385.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,485 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 1,179 shares during the period. Crestmont Private Wealth LLC purchased a new position in shares of Range Resources during the 4th quarter worth about $53,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of Range Resources during the 4th quarter worth about $57,000. 90.05% of the stock is owned by institutional investors and hedge funds.
About Range Resources (Get Rating)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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