Range Resources (NYSE:RRC) Price Target Lowered to $44.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Range Resources from $46.00 to $44.00, maintaining a "neutral" rating for the stock.
• Range Resources has seen mixed opinions from analysts, with target prices varying significantly, and a consensus rating of "Hold" alongside an average target price of $41.75.
• Institutional investors hold 98.93% of Range Resources' stock, indicating strong investment interest in the company.

Range Resources (NYSE:RRC - Get Free Report) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $46.00 to $44.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas exploration company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 15.07% from the stock's previous close.

Several other research analysts have also recently issued reports on RRC. Mizuho decreased their target price on shares of Range Resources from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Piper Sandler dropped their target price on shares of Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Susquehanna upped their target price on shares of Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Raymond James Financial dropped their target price on shares of Range Resources from $45.00 to $41.00 and set an "outperform" rating on the stock in a research note on Friday, September 19th. Finally, Roth Capital downgraded shares of Range Resources from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $44.00 to $35.00 in a research note on Monday, August 18th. Eight analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Range Resources has a consensus rating of "Hold" and an average target price of $41.75.

Range Resources Trading Down 0.9%

NYSE:RRC opened at $38.24 on Monday. Range Resources has a one year low of $28.99 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company's 50-day simple moving average is $35.18 and its 200 day simple moving average is $36.87. The firm has a market capitalization of $9.11 billion, a P/E ratio of 19.22, a PEG ratio of 0.33 and a beta of 0.51.

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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. As a group, analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its position in Range Resources by 6.1% during the 2nd quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company's stock valued at $301,133,000 after purchasing an additional 425,704 shares during the period. Lingotto Investment Management LLP boosted its stake in Range Resources by 2.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company's stock worth $291,263,000 after purchasing an additional 138,877 shares in the last quarter. Invesco Ltd. boosted its stake in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company's stock worth $194,644,000 after purchasing an additional 3,336,299 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in Range Resources by 30.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company's stock valued at $120,050,000 after acquiring an additional 689,212 shares during the period. Finally, Kopernik Global Investors LLC lifted its stake in Range Resources by 5.2% during 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 acquiring an additional 140,043 shares during the period. Hedge funds and other 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.

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