Range Resources (NYSE:RRC) Price Target Raised to $36.00

Range Resources (NYSE:RRC) had its target price increased by research analysts at Stephens from $35.00 to $36.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price objective points to a potential upside of 20.52% from the stock’s current price.

A number of other brokerages also recently issued reports on RRC. Susquehanna reduced their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, August 20th. Mizuho reduced their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, The Goldman Sachs Group cut their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.06.

Range Resources Trading Up 0.3 %

Shares of Range Resources stock traded up $0.10 on Thursday, hitting $29.87. The stock had a trading volume of 891,559 shares, compared to its average volume of 2,336,144. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a one year low of $27.29 and a one year high of $39.33. The stock’s 50-day simple moving average is $30.19 and its two-hundred day simple moving average is $33.25. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 15.14 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same quarter last year, the firm earned $0.27 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Range Resources will post 1.88 EPS for the current year.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acorn Creek Capital LLC bought a new stake in shares of Range Resources in the 3rd quarter worth $382,000. Creative Planning boosted its position in shares of Range Resources by 2.0% during the third quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock valued at $1,745,000 after buying an additional 1,089 shares during the last quarter. CWM LLC increased its holdings in Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 1,694 shares in the last quarter. Orser Capital Management LLC raised its position in Range Resources by 1.0% in the 3rd quarter. Orser Capital Management LLC now owns 53,993 shares of the oil and gas exploration company’s stock worth $1,661,000 after buying an additional 550 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Range Resources by 853.0% during the 3rd quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock valued at $6,106,000 after acquiring an additional 177,689 shares during the period. 98.93% of the stock is owned by institutional investors.

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.