Range Resources (NYSE:RRC) Rating Lowered to Hold at Texas Capital

Range Resources (NYSE:RRC) was downgraded by analysts at Texas Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

RRC has been the topic of a number of other reports. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Truist Financial cut their price objective on shares of Range Resources from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Zacks Research upgraded shares of Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. UBS Group decreased their price target on Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Barclays increased their price target on Range Resources from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.78.

Range Resources Trading Up 4.9%

RRC opened at $56.18 on Tuesday. The business’s 50-day moving average is $41.32 and its two-hundred day moving average is $40.01. Range Resources has a 1 year low of $32.68 and a 1 year high of $56.47.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Range Resources in the 2nd quarter valued at $868,085,000. Dimensional Fund Advisors LP raised its holdings in shares of Range Resources by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Range Resources by 19.3% during the third quarter. Canoe Financial LP now owns 3,953,091 shares of the oil and gas exploration company’s stock worth $148,403,000 after purchasing an additional 639,200 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Range Resources by 35.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,721,749 shares of the oil and gas exploration company’s stock worth $122,969,000 after purchasing an additional 718,648 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Range Resources by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,962,499 shares of the oil and gas exploration company’s stock valued at $88,666,000 after purchasing an additional 22,278 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources News Roundup

Here are the key news stories impacting Range Resources this week:

• Positive Sentiment: Proposed EQT merger remains the main catalyst. EQT will exchange 0.987 shares of EQT stock for each Range share in a transaction expected to create a more than $50 billion natural-gas producer. The companies forecast approximately $325 million in annual synergies within two years, along with improved market access, greater scale and stronger cash-flow generation. The deal is targeted to close in the first quarter of 2027, subject to shareholder and regulatory approvals. Range Resources Surges After EQT Agrees to Buy the Company in All-Stock Deal
• Positive Sentiment: Range beat quarterly earnings expectations. Adjusted third-quarter earnings were $0.81 per diluted share, up from $0.57 a year earlier and above the Zacks consensus estimate of $0.70. GAAP net income rose 21% year over year to $175 million, while revenue increased 13% to $843 million. Range Resources Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Operating performance was strong. Record liquids production reached 133,173 barrels per day, cash flow from operations totaled $308 million, and cash flow before working-capital changes was $347 million. Cash margin increased to $1.52 per mcfe from $1.36 a year earlier, supported by higher NGL and oil realizations.
• Neutral Sentiment: Deal-related uncertainty remains. The merger depends on shareholder votes, regulatory clearances and successful integration. Because the consideration is entirely in EQT shares, Range’s implied value will continue to fluctuate with EQT’s stock price.
• Negative Sentiment: Shareholder law firms are reviewing the transaction. Kahn Swick & Foti and other firms are investigating whether the price and sale process adequately protect Range shareholders. Analysts have also questioned the strategic valuation of Range’s assets at current commodity prices. Range Resources Investor Alert

About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.