Range Resources (NYSE:RRC) Stock Rating Upgraded by Roth Mkm

Range Resources (NYSE:RRC) was upgraded by research analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $42.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $41.00. Roth Mkm’s target price would suggest a potential upside of 19.65% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $40.00 to $49.00 in a report on Wednesday, March 26th. Mizuho lifted their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Benchmark restated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Finally, Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Range Resources has an average rating of “Hold” and an average price target of $41.71.

Range Resources Stock Performance

Shares of RRC opened at $35.10 on Tuesday. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $35.56. 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 $8.47 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million for 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 period in the prior year, the firm earned $0.63 EPS. On average, analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RRC. HighTower Advisors LLC increased its stake in Range Resources by 59.9% during the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock worth $4,045,000 after acquiring an additional 49,276 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Range Resources during the 3rd quarter valued at approximately $234,000. Weiss Asset Management LP purchased a new stake in Range Resources during the 3rd quarter valued at $490,000. Barclays PLC lifted its position in Range Resources by 180.8% in the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after buying an additional 142,938 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after buying an additional 327 shares during the period. Institutional investors 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.