Range Resources (NYSE:RRC) Lowered to “Sell” Rating by StockNews.com

Range Resources (NYSE:RRC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other research analysts have also recently issued reports on the stock. Williams Trading set a $40.00 price objective on shares of Range Resources in a report on Wednesday, March 5th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 target price on shares of Range Resources in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded Range Resources from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.43.

Range Resources Stock Performance

Shares of Range Resources stock opened at $34.04 on Tuesday. The business has a 50-day simple moving average of $37.44 and a 200 day simple moving average of $35.61. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a one year low of $27.29 and a one year high of $41.95.

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 the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, research analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Range Resources

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

Range Resources Company Profile

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.