Range Resources (NYSE:RRC - Get Free Report) had its target price lifted by equities researchers at Piper Sandler from $40.00 to $41.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the oil and gas exploration company's stock. Piper Sandler's price target would suggest a potential upside of 16.25% from the stock's current price.
A number of other equities analysts have also commented on RRC. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Stifel Nicolaus decreased their price target on Range Resources from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, January 23rd. Citigroup lifted their price objective on Range Resources from $33.00 to $37.00 and gave the company a "neutral" rating in a research report on Wednesday, April 3rd. Raymond James reduced their price objective on Range Resources from $37.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 24th. Finally, Truist Financial lowered their target price on Range Resources from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Range Resources has an average rating of "Hold" and an average target price of $35.80.
Read Our Latest Stock Report on RRC
Range Resources Stock Performance
RRC stock traded up $0.49 during midday trading on Friday, hitting $35.27. The stock had a trading volume of 2,046,339 shares, compared to its average volume of 2,530,862. Range Resources has a 52 week low of $23.92 and a 52 week high of $37.88. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $33.03 and a 200 day simple moving average of $32.25. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 9.96 and a beta of 1.83.
Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.21. The business had revenue of $941.40 million for the quarter, compared to analysts' expectations of $672.25 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm's revenue for the quarter was down 42.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. As a group, equities research analysts anticipate that Range Resources will post 1.91 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in RRC. Raymond James & Associates grew its position in shares of Range Resources by 12.4% in the 1st quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company's stock valued at $1,378,000 after acquiring an additional 4,987 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Range Resources by 31.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company's stock worth $1,090,000 after purchasing an additional 8,648 shares during the period. Vontobel Holding Ltd. bought a new position in Range Resources during the first quarter worth about $213,000. Lord Abbett & CO. LLC acquired a new position in Range Resources during the first quarter worth approximately $7,059,000. Finally, Canada Pension Plan Investment Board raised its stake in Range Resources by 1,102.7% in the first quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company's stock valued at $4,609,000 after buying an additional 139,096 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.
About Range Resources
(
Get Free Report)
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.
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