Range Resources (NYSE:RRC) Coverage Initiated at Stifel Nicolaus

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Range Resources (NYSE:RRC) in a report issued on Thursday. The firm set a “hold” rating and a $46.00 price target on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 11.21% from the company’s previous close.

Several other research firms have also recently commented on RRC. Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Stephens upped their target price on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Susquehanna cut their target price on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wells Fargo & Company cut their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $43.88.

Range Resources Price Performance

NYSE RRC traded down $0.38 during trading hours on Thursday, hitting $41.36. 88,878 shares of the company’s stock traded hands, compared to its average volume of 3,145,796. Range Resources has a 52-week low of $32.68 and a 52-week high of $48.31. The company has a market capitalization of $9.67 billion, a PE ratio of 11.45 and a beta of 0.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s 50-day moving average is $39.41 and its 200-day moving average is $40.55.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Range Resources’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Range Resources will post 3.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director directly owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Range Resources in the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Range Resources during the 2nd quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new stake in Range Resources in the 4th quarter valued at about $34,000. Ameritas Advisory Services LLC purchased a new stake in Range Resources in the 2nd quarter valued at about $44,000. Finally, Root Financial Partners LLC lifted its position in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 276 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, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.