Range Resources (NYSE:RRC) Given New $48.00 Price Target at Mizuho

Range Resources (NYSE:RRC - Get Free Report) had its target price raised by stock analysts at Mizuho from $46.00 to $48.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the oil and gas exploration company's stock. Mizuho's price objective suggests a potential upside of 35.72% from the stock's current price.

A number of other analysts also recently issued reports on the company. UBS Group lifted their target price on Range Resources from $36.00 to $37.00 and gave the company 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 report on Wednesday, April 23rd. Roth Mkm raised Range Resources from a "neutral" rating to a "buy" rating and lifted their target price for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Scotiabank set a $46.00 target price on Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Barclays lifted their target price on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $43.11.

Range Resources Trading Down 2.4%

Range Resources stock traded down $0.88 during mid-day trading on Wednesday, hitting $35.37. 2,169,993 shares of the company's stock were exchanged, compared to its average volume of 3,030,286. The company's 50 day simple moving average is $39.16 and its 200-day simple moving average is $38.04. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $43.50. The firm has a market capitalization of $8.42 billion, a P/E ratio of 17.77, a PEG ratio of 0.29 and a beta of 0.63. The company has a quick ratio of 0.56, a current ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%. The firm had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. During the same quarter last year, the business posted $0.46 EPS. On average, equities analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Insider Buying and Selling

In other Range Resources news, Director James M. Funk sold 13,582 shares of the business's stock in a transaction that occurred 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 directly owned 54,394 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares of the company's stock, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,080 shares of company stock valued at $2,984,479 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of RRC. Hollencrest Capital Management bought a new stake in shares of Range Resources in the first quarter worth $33,000. Bessemer Group Inc. grew its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after purchasing an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Range Resources during the first quarter valued at $39,000. Barrett & Company Inc. bought a new stake in Range Resources during the second quarter valued at $41,000. Finally, Headlands Technologies LLC bought a new stake in Range Resources during the fourth quarter valued at $42,000. Institutional investors own 98.93% of the company's stock.

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.