Range Resources (NYSE:RRC) Upgraded by StockNews.com to Sell Rating

Range Resources (NYSE:RRC) was upgraded by research analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently issued reports on RRC. Wells Fargo & Company reduced their price objective on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Bank of America started coverage on shares of Range Resources in a research report on Monday, October 28th. They issued a “neutral” rating and a $34.00 price target on the stock. Stephens increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on shares of Range Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Price Performance

Shares of NYSE:RRC opened at $33.90 on Tuesday. 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 cap of $8.18 billion, a price-to-earnings ratio of 17.12 and a beta of 1.80. The firm has a fifty day moving average price of $30.76 and a 200 day moving average price of $32.64. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts expect that Range Resources will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Range Resources

A number of hedge funds have recently made changes to their positions in RRC. Brooklyn Investment Group bought a new position in Range Resources in the third quarter worth about $25,000. Blue Trust Inc. grew its position in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Range Resources during the third quarter valued at approximately $49,000. Fifth Third Bancorp lifted its position in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in Range Resources in the second quarter valued at approximately $67,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.