Range Resources (NYSE:RRC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Range Resources (NYSE:RRC) from a hold rating to a sell rating in a report released on Wednesday.

Several other brokerages have also recently issued reports on RRC. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a report on Friday, January 17th. UBS Group boosted their price target on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Range Resources has a consensus rating of “Hold” and an average target price of $39.95.

Range Resources Stock Performance

Shares of RRC stock opened at $39.84 on Wednesday. The stock has a fifty day moving average price of $38.56 and a 200 day moving average price of $34.73. The stock has a market cap of $9.61 billion, a PE ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the previous year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Range Resources by 23.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company’s stock worth $327,000 after buying an additional 1,756 shares during the last quarter. Forum Financial Management LP lifted its holdings in Range Resources by 19.1% during the 4th quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company’s stock worth $289,000 after buying an additional 1,293 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Range Resources during the 4th quarter worth approximately $2,645,000. Public Employees Retirement System of Ohio bought a new position in Range Resources during the 4th quarter worth approximately $3,001,000. Finally, Castleark Management LLC lifted its holdings in Range Resources by 324.2% during the 4th quarter. Castleark Management LLC now owns 223,910 shares of the oil and gas exploration company’s stock worth $8,056,000 after buying an additional 171,130 shares during the last quarter. Institutional investors and hedge funds 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.