Range Resources (NYSE:RRC) Shares Down 3.9% After Analyst Downgrade

Range Resources Co. (NYSE:RRCGet Rating) traded down 3.9% on Tuesday after Morgan Stanley lowered their price target on the stock from $26.00 to $24.00. Morgan Stanley currently has an underweight rating on the stock. Range Resources traded as low as $25.77 and last traded at $25.83. 879,928 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 3,814,175 shares. The stock had previously closed at $26.88.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Range Resources from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, September 29th. Stifel Nicolaus started coverage on Range Resources in a report on Tuesday, October 25th. They set a “buy” rating and a $32.00 target price for the company. Susquehanna raised Range Resources from a “neutral” rating to a “positive” rating and set a $38.00 target price for the company in a report on Wednesday, October 26th. Credit Suisse Group decreased their target price on Range Resources from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, October 25th. Finally, TD Securities raised Range Resources from a “hold” rating to a “buy” rating and lifted their target price for the stock from $32.00 to $33.00 in a report on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus price target of $35.25.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC increased its position in shares of Range Resources by 64.9% in the second quarter. CWM LLC now owns 1,194 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 470 shares in the last quarter. Ronald Blue Trust Inc. increased its position in shares of Range Resources by 75.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,187 shares of the oil and gas exploration company’s stock valued at $30,000 after buying an additional 511 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Range Resources by 34.3% in the second quarter. Exchange Traded Concepts LLC now owns 1,994 shares of the oil and gas exploration company’s stock valued at $49,000 after buying an additional 509 shares in the last quarter. Tobam purchased a new stake in shares of Range Resources in the third quarter valued at approximately $53,000. Finally, IFP Advisors Inc increased its position in shares of Range Resources by 43.4% in the third quarter. IFP Advisors Inc now owns 3,444 shares of the oil and gas exploration company’s stock valued at $69,000 after buying an additional 1,042 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Price Performance

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $6.30 billion, a PE ratio of 5.36, a PEG ratio of 0.23 and a beta of 2.11. The company has a 50-day moving average of $26.32 and a 200 day moving average of $28.52.

Range Resources (NYSE:RRCGet Rating) last issued its quarterly earnings results on Monday, October 24th. The oil and gas exploration company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. Range Resources had a return on equity of 60.30% and a net margin of 30.87%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 267.0% on a year-over-year basis. Sell-side analysts predict that Range Resources Co. will post 4.85 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 14th. Range Resources’s dividend payout ratio (DPR) is currently 6.57%.

Range Resources Company Profile

(Get Rating)

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.

Featured Articles

Receive News & Ratings for Range Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Range Resources and related companies with MarketBeat.com's FREE daily email newsletter.