Range Resources (NYSE:RRC) Downgraded by Texas Capital to Hold

Range Resources (NYSE:RRC) was downgraded by stock analysts at Texas Capital from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Other research analysts have also recently issued reports about the company. UBS Group reduced their price target on Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Citigroup restated a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. BMO Capital Markets restated a “market perform” rating on shares of Range Resources in a research report on Monday, October 5th. Morgan Stanley set a $54.00 price objective on shares of Range Resources in a research note on Tuesday. Finally, Mizuho lifted their target price on shares of Range Resources from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eighteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $45.78.

Range Resources Stock Performance

Shares of RRC opened at $56.18 on Tuesday. Range Resources has a 52 week low of $32.68 and a 52 week high of $56.47. The stock’s 50-day moving average price is $41.32 and its 200-day moving average price is $40.01.

Insiders Place Their Bets

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently bought and sold shares of RRC. Seelaus Asset Management LLC grew its holdings in Range Resources by 2.6% in the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after purchasing an additional 250 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Range Resources by 0.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 43,988 shares of the oil and gas exploration company’s stock worth $1,629,000 after buying an additional 264 shares during the period. Root Financial Partners LLC raised its stake in shares of Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the period. NewEdge Advisors LLC raised its stake in shares of Range Resources by 9.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,494 shares of the oil and gas exploration company’s stock worth $130,000 after buying an additional 291 shares during the period. Finally, Toth Financial Advisory Corp lifted its position in shares of Range Resources by 27.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $52,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources News Roundup

Here are the key news stories impacting Range Resources this week:

• Positive Sentiment: Proposed EQT merger remains the main catalyst. EQT will exchange 0.987 shares of EQT stock for each Range share in a transaction expected to create a more than $50 billion natural-gas producer. The companies forecast approximately $325 million in annual synergies within two years, along with improved market access, greater scale and stronger cash-flow generation. The deal is targeted to close in the first quarter of 2027, subject to shareholder and regulatory approvals. Range Resources Surges After EQT Agrees to Buy the Company in All-Stock Deal
• Positive Sentiment: Range beat quarterly earnings expectations. Adjusted third-quarter earnings were $0.81 per diluted share, up from $0.57 a year earlier and above the Zacks consensus estimate of $0.70. GAAP net income rose 21% year over year to $175 million, while revenue increased 13% to $843 million. Range Resources Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Operating performance was strong. Record liquids production reached 133,173 barrels per day, cash flow from operations totaled $308 million, and cash flow before working-capital changes was $347 million. Cash margin increased to $1.52 per mcfe from $1.36 a year earlier, supported by higher NGL and oil realizations.
• Neutral Sentiment: Deal-related uncertainty remains. The merger depends on shareholder votes, regulatory clearances and successful integration. Because the consideration is entirely in EQT shares, Range’s implied value will continue to fluctuate with EQT’s stock price.
• Negative Sentiment: Shareholder law firms are reviewing the transaction. Kahn Swick & Foti and other firms are investigating whether the price and sale process adequately protect Range shareholders. Analysts have also questioned the strategic valuation of Range’s assets at current commodity prices. Range Resources Investor Alert

About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company’s activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.