Northland Securities assumed coverage on shares of Range Resources (NYSE:RRC) in a research note issued to investors on Monday, Benzinga reports. The brokerage issued an outperform rating and a $14.00 price target on the oil and gas exploration company’s stock.
Other equities research analysts have also issued reports about the company. Credit Suisse Group initiated coverage on Range Resources in a research report on Tuesday, August 4th. They issued a sell rating and a $4.00 price target for the company. Morgan Stanley increased their price target on Range Resources from $4.00 to $7.00 and gave the company an underweight rating in a research report on Friday, August 21st. Wells Fargo & Company initiated coverage on Range Resources in a research report on Thursday, June 25th. They issued an equal weight rating and a $11.00 price target for the company. Wolfe Research raised Range Resources from a peer perform rating to an outperform rating in a research report on Wednesday, August 12th. Finally, UBS Group increased their price target on Range Resources from $2.30 to $6.00 and gave the company a neutral rating in a research report on Monday, June 29th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $5.87.
Shares of NYSE:RRC opened at $7.83 on Monday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.36. Range Resources has a twelve month low of $1.61 and a twelve month high of $9.37. The stock’s 50 day moving average is $7.61 and its 200-day moving average is $5.66. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -1.06 and a beta of 2.81.
Range Resources (NYSE:RRC) last issued its earnings results on Monday, August 3rd. The oil and gas exploration company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. Range Resources had a negative return on equity of 0.43% and a negative net margin of 79.81%. The company had revenue of $376.55 million for the quarter, compared to analyst estimates of $492.64 million. During the same period in the prior year, the firm earned $0.02 earnings per share. Range Resources’s revenue for the quarter was down 55.8% on a year-over-year basis. Equities research analysts anticipate that Range Resources will post -0.06 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Ltd. bought a new position in Range Resources in the 1st quarter worth about $25,000. Nomura Asset Management Co. Ltd. bought a new position in Range Resources in the 1st quarter worth about $25,000. Private Advisor Group LLC bought a new position in Range Resources in the 2nd quarter worth about $31,000. Cetera Advisor Networks LLC boosted its stake in Range Resources by 27.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 14,521 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 3,150 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Range Resources in the 2nd quarter worth about $49,000.
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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