StockNews.com Upgrades Range Resources (NYSE:RRC) to "Hold"

Range Resources (NYSE:RRC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other analysts also recently issued reports about the company. Barclays set a $43.00 price target on Range Resources and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Raymond James upped their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Stephens upped their target price on shares of Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $41.71.

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Range Resources Stock Performance

RRC traded down $1.76 during trading on Friday, hitting $31.75. The stock had a trading volume of 2,569,210 shares, compared to its average volume of 2,384,942. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market capitalization of $7.66 billion, a P/E ratio of 15.96, a PEG ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company's 50-day moving average price is $38.22 and its 200 day moving average price is $35.56.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities research analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Range Resources

Large investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its stake in shares of Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after acquiring an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP acquired a new position in Range Resources during the fourth quarter worth approximately $33,684,000. Amundi raised its stake in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock worth $44,308,000 after purchasing an additional 826,530 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after purchasing an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Range Resources by 37.1% during the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.