Range Resources (NYSE:RRC) Now Covered by Analysts at Wolfe Research

Equities researchers at Wolfe Research assumed coverage on shares of Range Resources (NYSE:RRC) in a note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “peer perform” rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other reports. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their target price for the stock from $40.00 to $45.00 in a report on Thursday, April 11th. Royal Bank of Canada lowered Range Resources from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Stephens upped their target price on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Barclays began coverage on Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 target price on the stock. Finally, Morgan Stanley upped their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.15.

Range Resources Stock Performance

Shares of Range Resources stock opened at $33.52 on Thursday. The company has a market capitalization of $8.13 billion, a PE ratio of 17.02 and a beta of 1.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50-day simple moving average of $35.44 and a two-hundred day simple moving average of $33.50. Range Resources has a one year low of $27.60 and a one year high of $39.33.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million during 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 firm’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Research analysts expect that Range Resources will post 2.1 EPS for the current fiscal year.

Insider Transactions at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,500 shares of Range Resources stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $34.65 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 4,646 shares in the company, valued at approximately $160,983.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Reginal Spiller sold 1,460 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles G. Griffie acquired 1,500 shares of Range Resources stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $34.65 per share, with a total value of $51,975.00. Following the completion of the purchase, the director now owns 4,646 shares in the company, valued at approximately $160,983.90. The disclosure for this purchase can be found here. Insiders sold a total of 197,107 shares of company stock valued at $7,379,095 in the last three months. 1.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RRC. Benjamin F. Edwards & Company Inc. raised its stake in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 666 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in shares of Range Resources in the 4th quarter worth $52,000. Perkins Coie Trust Co acquired a new stake in shares of Range Resources in the 2nd quarter worth $67,000. Private Wealth Management Group LLC acquired a new stake in shares of Range Resources in the 4th quarter worth $73,000. Finally, SYSTM Wealth Solutions LLC increased its stake in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after acquiring an additional 325 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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.