Royal Bank of Canada Reiterates Outperform Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRC)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $36.00 target price on the oil and gas exploration company’s stock. Royal Bank of Canada’s target price indicates a potential downside of 0.88% from the company’s previous close.

A number of other equities analysts have also commented on the company. Mizuho reissued a “buy” rating and issued a $39.00 price objective (up previously from $37.00) on shares of Range Resources in a research note on Wednesday, March 13th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Scotiabank reduced their target price on shares of Range Resources from $43.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 16th. Benchmark lowered shares of Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $34.00 price objective (down previously from $43.00) on shares of Range Resources in a report on Friday, January 26th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.00.

Range Resources Stock Up 0.3 %

RRC opened at $36.32 on Tuesday. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.88. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 10.26 and a beta of 1.83. The firm’s 50-day simple moving average is $32.07 and its 200-day simple moving average is $32.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm had revenue of $941.40 million for the quarter, compared to analysts’ expectations of $672.25 million. During the same period in the prior year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was down 42.3% compared to the same quarter last year. Equities research analysts anticipate that Range Resources will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. acquired a new stake in Range Resources in the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in Range Resources during the 3rd quarter worth $27,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Range Resources in the second quarter valued at about $28,000. Finally, Proffitt & Goodson Inc. bought a new stake in shares of Range Resources in the third quarter worth about $32,000. Institutional investors 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.