Range Resources (NYSE:RRC) Price Target Raised to $36.00

Range Resources (NYSE:RRC) had its target price boosted by equities researchers at Susquehanna from $34.00 to $36.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Susquehanna’s price target suggests a potential upside of 2.07% from the company’s current price.

RRC has been the subject of a number of other reports. Morgan Stanley upped their price objective on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Citigroup increased their price target on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Raymond James decreased their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Sandler increased their price target on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus price target of $35.90.

Range Resources Trading Up 1.4 %

Shares of NYSE RRC opened at $35.27 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $8.54 billion, a P/E ratio of 9.96 and a beta of 1.83. Range Resources has a 1-year low of $23.92 and a 1-year high of $37.88. The business has a fifty day moving average price of $33.03 and a 200 day moving average price of $32.27.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. The firm had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm’s quarterly revenue was down 42.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. Equities research analysts expect that Range Resources will post 1.94 EPS for the current fiscal year.

Institutional Trading of Range Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Orser Capital Management LLC grew its holdings in Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after purchasing an additional 427 shares during the period. Alliance Wealth Advisors LLC UT grew its holdings in Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares during the period. Fifth Third Bancorp grew its holdings in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares during the period. Lmcg Investments LLC grew its holdings in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares during the period. Finally, Xponance Inc. grew its holdings in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after purchasing an additional 579 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.