Range Resources (NYSE:RRC) Stock Price Expected to Rise, Bank of America Analyst Says

Range Resources (NYSE:RRC - Get Free Report) had its price target increased by analysts at Bank of America from $45.00 to $47.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. Bank of America's target price would suggest a potential upside of 18.96% from the company's current price.

A number of other research firms have also recently commented on RRC. Raymond James raised their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. Citigroup cut shares of Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Mizuho upped their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Finally, Susquehanna decreased their price target on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Two investment 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.95.

Range Resources Stock Performance

Shares of NYSE:RRC traded up $0.10 during midday trading on Friday, hitting $39.51. The company had a trading volume of 448,198 shares, compared to its average volume of 2,466,043. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a fifty day moving average of $36.67 and a two-hundred day moving average of $36.63. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 5.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction 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 now owns 58,431 shares in the company, valued at $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James M. Funk sold 13,582 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares of the company's stock, valued at $1,905,421.82. This trade represents a 19.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,880 shares of company stock worth $2,815,807. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Range Resources by 180.8% during the 3rd quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock worth $6,830,000 after acquiring an additional 142,938 shares during the last quarter. UMB Bank n.a. increased its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock worth $41,000 after purchasing an additional 426 shares during the period. Nisa Investment Advisors LLC grew its stake in Range Resources by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company's stock worth $2,397,000 after acquiring an additional 420 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Range Resources during the fourth quarter valued at approximately $304,000. Finally, Red Door Wealth Management LLC bought a new stake in shares of Range Resources during the fourth quarter valued at approximately $252,000. Hedge funds and other institutional investors own 98.93% of the company's stock.

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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