Range Resources (NYSE:RRC) Upgraded by StockNews.com to “Sell” Rating

Range Resources (NYSE:RRC) was upgraded by analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

A number of other equities analysts have also issued reports on the company. Stephens increased their price target on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Finally, Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Stock Performance

RRC traded down $0.69 during trading hours on Wednesday, hitting $35.59. The company’s stock had a trading volume of 1,952,244 shares, compared to its average volume of 2,356,005. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $8.59 billion, a PE ratio of 17.97 and a beta of 1.80. The company has a 50-day simple moving average of $31.87 and a 200 day simple moving average of $32.53.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. As a group, sell-side analysts expect that Range Resources will post 1.88 EPS for the current year.

Insider Activity

In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RRC. Brooklyn Investment Group acquired a new position in Range Resources during the 3rd quarter worth $25,000. Blue Trust Inc. lifted its position in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the last quarter. Bogart Wealth LLC acquired a new position in Range Resources during the 3rd quarter worth $49,000. Fifth Third Bancorp lifted its position in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after acquiring an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new position in Range Resources during the 2nd quarter worth $67,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

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.