Range Resources (NYSE:RRC) was upgraded by analysts at MKM Partners from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat.com reports. The firm currently has a $6.00 price objective on the oil and gas exploration company’s stock. MKM Partners’ price objective would indicate a potential upside of 40.19% from the stock’s current price.

RRC has been the topic of a number of other research reports. TD Securities lowered their price objective on Range Resources from $7.50 to $5.50 and set a “hold” rating on the stock in a report on Friday, July 26th. Susquehanna Bancshares lowered their target price on Range Resources from $11.00 to $8.50 and set a “positive” rating on the stock in a report on Monday, July 29th. Guggenheim lowered Range Resources from a “buy” rating to a “neutral” rating in a report on Thursday, April 25th. Citigroup lowered their target price on Range Resources from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group lowered Range Resources from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $7.00 in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.45.

Shares of NYSE RRC opened at $4.28 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.70 and a current ratio of 0.75. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 3.79, a P/E/G ratio of 2.76 and a beta of 0.94. The business’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $8.37. Range Resources has a 52 week low of $3.76 and a 52 week high of $18.59.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $851.43 million for the quarter, compared to analyst estimates of $672.93 million. Range Resources had a positive return on equity of 4.66% and a negative net margin of 45.91%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. As a group, equities research analysts forecast that Range Resources will post 0.44 earnings per share for the current year.

In other Range Resources news, VP David P. Poole sold 5,843 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $5.69, for a total value of $33,246.67. Following the completion of the sale, the vice president now owns 58,196 shares in the company, valued at approximately $331,135.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Scucchi acquired 12,955 shares of Range Resources stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $4.36 per share, with a total value of $56,483.80. Following the transaction, the chief financial officer now directly owns 14,149 shares in the company, valued at approximately $61,689.64. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its position in shares of Range Resources by 667.8% in the 1st quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 1,950 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $46,000. M&T Bank Corp bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $69,000. Reilly Financial Advisors LLC bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $70,000. Finally, MML Investors Services LLC bought a new stake in shares of Range Resources in the 2nd quarter worth approximately $76,000.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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