Range Resources (NYSE:RRC) Given New $43.00 Price Target at The Goldman Sachs Group

Range Resources (NYSE:RRC) had its target price upped by research analysts at The Goldman Sachs Group from $39.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 10.82% from the company’s current price.

Several other equities research analysts have also recently weighed in on RRC. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Finally, Citigroup upped their price objective on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.78.

Range Resources Trading Up 0.8 %

RRC opened at $38.80 on Wednesday. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a 50-day simple moving average of $37.08 and a 200 day simple moving average of $33.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.60 and a beta of 1.77.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares in the last quarter. Commerce Bank boosted its position in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after buying an additional 369 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 378 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after buying an additional 379 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after buying an additional 390 shares during the last quarter. 98.93% of the stock is currently owned by 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.