Range Resources (NYSE:RRC) Rating Increased to Hold at TD Cowen

Range Resources (NYSE:RRC) was upgraded by analysts at TD Cowen to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on RRC. Citigroup dropped their target price on Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Barclays raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada decreased their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Wells Fargo & Company set a $43.00 price target on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Monday, January 12th. Finally, Zacks Research cut Range Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.22.

Range Resources Stock Performance

Shares of RRC stock opened at $36.04 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources has a 52 week low of $30.32 and a 52 week high of $43.50. The company’s 50 day moving average price is $35.79 and its two-hundred day moving average price is $36.09. The company has a market capitalization of $8.54 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.34 and a beta of 0.58.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Profund Advisors LLC grew its position in Range Resources by 5.5% during the third quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after buying an additional 282 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Range Resources by 2.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 302 shares in the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of Range Resources by 3.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock worth $360,000 after purchasing an additional 312 shares in the last quarter. ProShare Advisors LLC lifted its position in Range Resources by 3.1% during the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after purchasing an additional 315 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 336 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

About Range Resources

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.