Range Resources (NYSE:RRC) Upgraded at StockNews.com

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

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Citigroup downgraded Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, UBS Group increased their price target on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.70.

Range Resources Price Performance

Shares of RRC opened at $33.47 on Friday. 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 current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $8.08 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The company’s fifty day moving average price is $38.22 and its 200-day moving average price is $35.56.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities research analysts predict that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RRC. BNP Paribas Financial Markets increased its position in Range Resources by 329.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company’s stock worth $1,772,000 after buying an additional 44,209 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Range Resources by 3.4% in the third quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company’s stock worth $1,650,000 after purchasing an additional 1,787 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Range Resources by 59.9% in the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock valued at $4,045,000 after buying an additional 49,276 shares during the period. Royal London Asset Management Ltd. boosted its position in Range Resources by 1.6% during the third quarter. Royal London Asset Management Ltd. now owns 671,954 shares of the oil and gas exploration company’s stock valued at $20,669,000 after acquiring an additional 10,385 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Range Resources in the 3rd quarter valued at about $234,000. 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.