Range Resources (NYSE:RRC) Given New $44.00 Price Target at Barclays

Range Resources (NYSE:RRC - Get Free Report) had its price objective increased by research analysts at Barclays from $39.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas exploration company's stock. Barclays's target price suggests a potential upside of 13.94% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial lifted their price target on Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Wall Street Zen lowered Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. UBS Group lifted their target price on shares of Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Bank of America lifted their target price on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus price target of $42.20.

Range Resources Trading Down 0.0%

Shares of NYSE RRC traded down $0.00 during mid-day trading on Monday, hitting $38.62. 1,459,071 shares of the company traded hands, compared to its average volume of 2,512,901. The business has a 50 day moving average of $39.03 and a two-hundred day moving average of $37.86. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 0.30 and a beta of 0.63. Range Resources has a 1 year low of $27.29 and a 1 year high of $43.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28.

Insider Activity at Range Resources

In related news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer directly owned 58,431 shares in the company, valued at $2,361,781.02. This represents a 38.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the sale, the senior vice president owned 13,800 shares in the company, valued at $560,556. This represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Boston Partners raised its position in shares of Range Resources by 4.9% in the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after buying an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Range Resources by 9.3% in the 4th 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 during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Kopernik Global Investors LLC increased its holdings in Range Resources by 5.2% during the first quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock worth $113,667,000 after buying an additional 140,043 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after purchasing an additional 605,315 shares during the period. 98.93% of the stock is owned by institutional investors.

About Range Resources

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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