Range Resources (NYSE:RRC) Price Target Raised to $41.00

Key Points

• Piper Sandler raised its price target to $41 (from $37) and kept a "neutral" rating; MarketBeat shows a consensus target of $41.63 and an overall average rating of "Hold."
• Range Resources beat Q4 expectations, reporting $0.82 EPS versus $0.69 expected and revenue of $786.9M (up 30.9% YoY); the stock traded at $42.16 with a market cap of about $9.92B and a PE of 15.4.
• Analyst views are mixed — targets range as high as $48 (Mizuho) and as low as $40 (Morgan Stanley) — and institutional investors own roughly 98.93% of the shares.

Range Resources (NYSE:RRC - Get Free Report) had its price objective raised by equities research analysts at Piper Sandler from $37.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas exploration company's stock. Piper Sandler's target price would indicate a potential downside of 2.75% from the company's previous close.

A number of other brokerages also recently weighed in on RRC. Wells Fargo & Company boosted their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Morgan Stanley decreased their price target on Range Resources from $42.00 to $40.00 and set an "equal weight" rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada lowered their price objective on shares of Range Resources from $46.00 to $44.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 14th. Mizuho lifted their price target on Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, December 12th. Finally, UBS Group raised their price target on Range Resources from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.63.

Range Resources Trading Up 1.5%

Shares of RRC stock traded up $0.61 during trading hours on Thursday, hitting $42.16. The company had a trading volume of 1,340,501 shares, compared to its average volume of 3,311,592. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $9.92 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 0.38 and a beta of 0.57. The company's fifty day moving average is $36.51 and its 200 day moving average is $36.51. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company's revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Research analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC grew its holdings in shares of Range Resources by 43.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company's stock worth $14,626,000 after purchasing an additional 117,722 shares in the last quarter. Laffer Tengler Investments Inc. acquired a new position in shares of Range Resources during the 2nd quarter worth $370,000. Congress Asset Management Co. boosted its stake in Range Resources by 12.1% in the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company's stock valued at $20,299,000 after buying an additional 58,335 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Range Resources by 753.5% during the third quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company's stock worth $3,394,000 after acquiring an additional 79,613 shares in the last quarter. Finally, Builder Investment Group Inc. ADV lifted its holdings in shares of Range Resources by 84.5% in the third quarter. Builder Investment Group Inc. ADV now owns 136,820 shares of the oil and gas exploration company's stock worth $5,150,000 after acquiring an additional 62,675 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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