Range Resources (NYSE:RRC) Price Target Raised to $48.00 at Mizuho

Range Resources (NYSE:RRC - Get Free Report) had its price objective hoisted by stock analysts at Mizuho from $46.00 to $48.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the oil and gas exploration company's stock. Mizuho's price objective would suggest a potential upside of 34.36% from the company's current price.

RRC has been the subject of a number of other reports. Susquehanna upped their price target on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday. UBS Group lifted their price objective on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Stephens reaffirmed an "overweight" rating and issued a $49.00 target price on shares of Range Resources in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Roth Capital upgraded shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Range Resources presently has a consensus rating of "Hold" and an average target price of $43.11.

Range Resources Price Performance

Shares of RRC stock traded down $0.53 during trading hours on Wednesday, hitting $35.72. 404,839 shares of the company's stock were exchanged, compared to its average volume of 2,937,531. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The firm has a market cap of $8.54 billion, a P/E ratio of 17.95, a P/E/G ratio of 0.29 and a beta of 0.63. The firm has a 50 day moving average of $39.26 and a two-hundred day moving average of $38.04. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same period in the prior year, the business posted $0.46 earnings per share. Sell-side analysts forecast that Range Resources will post 2.02 EPS for the current year.

Insider Activity at Range Resources

In related news, Director James M. Funk sold 13,582 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the transaction, the director owned 54,394 shares in the company, valued at approximately $1,905,421.82. The trade was a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $40.62, for a total transaction of $388,652.16. Following the transaction, the senior vice president owned 13,800 shares of the company's stock, valued at approximately $560,556. The trade was a 40.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,080 shares of company stock worth $2,984,479 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Range Resources by 9.3% in the fourth 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 purchasing an additional 624,955 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Range Resources by 71.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Kopernik Global Investors LLC boosted its holdings in shares of Range Resources by 5.2% in the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock valued at $113,667,000 after buying an additional 140,043 shares in the last quarter. Northern Trust Corp boosted its stake in 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 valued at $80,554,000 after acquiring an additional 605,315 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Range Resources by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,151,250 shares of the oil and gas exploration company's stock valued at $85,899,000 after acquiring an additional 38,648 shares in the last quarter. 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.