Range Resources (NYSE:RRC) Receives “Buy” Rating from Mizuho

Range Resources (NYSE:RRC)‘s stock had its “buy” rating reiterated by investment analysts at Mizuho in a research report issued on Friday, Benzinga reports. They presently have a $41.00 price objective on the oil and gas exploration company’s stock, up from their prior price objective of $39.00. Mizuho’s price objective suggests a potential upside of 10.39% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays initiated coverage on Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective on the stock. Stephens upped their price target on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Raymond James decreased their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.65.

Range Resources Trading Down 1.4 %

NYSE:RRC traded down $0.51 during mid-day trading on Friday, hitting $37.14. 851,029 shares of the stock traded hands, compared to its average volume of 2,570,464. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 18.81 and a beta of 1.83. Range Resources has a 52 week low of $23.92 and a 52 week high of $38.25. The firm’s 50 day moving average is $33.67 and its two-hundred day moving average is $32.40.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts predict that Range Resources will post 2 earnings per share for the current year.

Insider Buying and Selling at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Range Resources

Hedge funds have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources during the third quarter valued at about $27,000. Schroder Investment Management Group grew its stake in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the last quarter. Kennedy Capital Management LLC raised its position in Range Resources by 17.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Range Resources in the third quarter valued at about $19,704,000. Finally, Cambria Investment Management L.P. grew its position in shares of Range Resources by 8.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after buying an additional 20,685 shares during the period. 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.