Range Resources (NYSE:RRC) Upgraded by TD Cowen to Hold Rating

Range Resources (NYSE:RRC) was upgraded by research analysts at TD Cowen to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts have also weighed in on RRC. Mizuho raised their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $39.00 price objective (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Piper Sandler decreased their price target on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada cut their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.22.

Range Resources Trading Down 1.4%

Shares of RRC stock opened at $36.04 on Monday. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The stock’s fifty day moving average price is $35.79 and its two-hundred day moving average price is $36.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $8.54 billion, a PE ratio of 15.14, a P/E/G ratio of 0.34 and a beta of 0.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its position in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 703 shares during the last quarter. True Wealth Design LLC increased its holdings in Range Resources by 116.3% in the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 541 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Range Resources in the 2nd quarter worth approximately $45,000. Finally, Allworth Financial LP boosted its holdings in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 731 shares during the period. 98.93% of the stock is owned by institutional investors.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.