Range Resources (NYSE:RRC) Now Covered by Cowen

Equities research analysts at Cowen initiated coverage on shares of Range Resources (NYSE:RRC) in a report released on Tuesday, April 9th, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $14.00 price target on the oil and gas exploration company’s stock. Cowen’s price target suggests a potential upside of 53.34% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. TheStreet cut Range Resources from a “c” rating to a “d” rating in a research note on Wednesday, March 13th. TD Securities reiterated a “hold” rating and issued a $11.00 price target (down previously from $15.00) on shares of Range Resources in a research note on Wednesday, February 27th. Tudor Pickering cut Range Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Credit Suisse Group set a $16.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, B. Riley set a $21.00 price objective on Range Resources and gave the company a “buy” rating in a research note on Tuesday, February 26th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Range Resources has an average rating of “Hold” and an average target price of $17.51.

Shares of NYSE:RRC traded up $0.39 during midday trading on Tuesday, reaching $9.13. The company’s stock had a trading volume of 8,435,633 shares, compared to its average volume of 8,617,588. The company has a market cap of $2.29 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.65 and a beta of 1.07. The company has a quick ratio of 0.54, a current ratio of 0.58 and a debt-to-equity ratio of 0.93. Range Resources has a 1 year low of $8.49 and a 1 year high of $18.59.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Monday, April 22nd. The oil and gas exploration company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.12. The firm had revenue of $748.13 million during the quarter, compared to the consensus estimate of $789.65 million. Range Resources had a positive return on equity of 5.23% and a negative net margin of 54.57%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. Sell-side analysts expect that Range Resources will post 0.59 earnings per share for the current fiscal year.

In other Range Resources news, Director James M. Funk bought 10,000 shares of Range Resources stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now directly owns 22,706 shares of the company’s stock, valued at $222,518.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven D. Gray purchased 20,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $8.77 per share, for a total transaction of $175,400.00. The disclosure for this purchase can be found here. Insiders have bought a total of 61,100 shares of company stock valued at $592,744 in the last quarter. Insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new position in Range Resources during the fourth quarter worth $25,000. Quadrant Capital Group LLC increased its position in Range Resources by 667.8% during the first quarter. Quadrant Capital Group LLC now owns 2,242 shares of the oil and gas exploration company’s stock worth $25,000 after buying an additional 1,950 shares during the last quarter. Rational Advisors LLC increased its position in Range Resources by 3,255.6% during the fourth quarter. Rational Advisors LLC now owns 3,020 shares of the oil and gas exploration company’s stock worth $29,000 after buying an additional 2,930 shares during the last quarter. Sit Investment Associates Inc. acquired a new position in Range Resources during the fourth quarter worth $45,000. Finally, Ayalon Holdings Ltd. increased its position in Range Resources by 87.1% during the fourth quarter. Ayalon Holdings Ltd. now owns 6,939 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 3,230 shares during the last quarter.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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