Range Resources (RRC) Rating Lowered to Hold at ValuEngine

Range Resources (NYSE:RRC) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 2nd.

A number of other brokerages have also weighed in on RRC. KeyCorp restated a “hold” rating on shares of Range Resources in a report on Monday, November 13th. BMO Capital Markets set a $30.00 target price on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group restated a “buy” rating and issued a $25.00 price objective on shares of Range Resources in a research note on Tuesday, October 10th. Bank of America dropped their target price on shares of Range Resources from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Finally, Scotiabank set a $27.00 target price on shares of Range Resources and gave the stock a “buy” rating in a report on Saturday, November 25th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Range Resources presently has an average rating of “Hold” and a consensus target price of $25.59.

Shares of Range Resources (NYSE RRC) opened at $13.05 on Friday. Range Resources has a 12-month low of $11.93 and a 12-month high of $33.57. The company has a market capitalization of $3,153.85, a P/E ratio of -62.14, a PEG ratio of 0.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47.

In other Range Resources news, Director Anthony V. Dub sold 2,897 shares of Range Resources stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $16.06, for a total value of $46,525.82. Following the completion of the transaction, the director now owns 96,000 shares of the company’s stock, valued at $1,541,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steffen E. Palko acquired 34,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average cost of $14.72 per share, with a total value of $500,480.00. Following the acquisition, the director now directly owns 61,267 shares of the company’s stock, valued at approximately $901,850.24. The disclosure for this purchase can be found here. Insiders have sold 44,574 shares of company stock valued at $729,007 over the last quarter. Insiders own 0.42% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Range Resources by 15.0% in the second quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after purchasing an additional 1,805,404 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Range Resources in the third quarter valued at about $34,462,000. Dimensional Fund Advisors LP grew its position in shares of Range Resources by 72.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,322,750 shares of the oil and gas exploration company’s stock valued at $53,825,000 after purchasing an additional 973,814 shares during the period. Sanders Capital LLC grew its position in shares of Range Resources by 4.5% in the third quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock valued at $332,679,000 after purchasing an additional 673,214 shares during the period. Finally, BlackRock Inc. grew its position in shares of Range Resources by 4.5% in the fourth quarter. BlackRock Inc. now owns 15,543,438 shares of the oil and gas exploration company’s stock valued at $265,170,000 after purchasing an additional 673,151 shares during the period. 95.64% of the stock is owned by institutional investors.

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About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

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