Range Resources (NYSE:RRC) Price Target Raised to $44.00 at Stephens

Range Resources (NYSE:RRC) had its price target upped by equities research analysts at Stephens from $43.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ target price would indicate a potential upside of 16.22% from the stock’s current price.

A number of other equities research analysts have also issued reports on RRC. Piper Sandler upped their target price on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup upped their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Finally, Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.83.

Range Resources Trading Up 1.0 %

Shares of Range Resources stock opened at $37.86 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market capitalization of $9.14 billion, a PE ratio of 19.35, a P/E/G ratio of 5.11 and a beta of 1.78. The firm’s 50-day moving average price is $37.71 and its 200 day moving average price is $33.83.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same period in the previous year, the company posted $0.63 earnings per share. On average, sell-side analysts predict that Range Resources will post 2.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted its position in shares of Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Range Resources during the 4th quarter worth approximately $33,684,000. Amundi lifted its holdings in Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after buying an additional 624,955 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after acquiring an additional 605,315 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.