UBS Group Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its target price boosted by research analysts at UBS Group from $39.00 to $41.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. UBS Group’s price objective would indicate a potential upside of 6.00% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RRC. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Barclays raised their price objective on shares of Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Citigroup increased their target price on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised their target price on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Range Resources has an average rating of “Hold” and an average price target of $38.78.

Range Resources Trading Down 0.3 %

Range Resources stock opened at $38.68 on Thursday. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $9.33 billion, a PE ratio of 19.54 and a beta of 1.77. The firm has a 50 day simple moving average of $37.17 and a 200-day simple moving average of $33.33.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. increased its stake in shares of Range Resources by 71.3% in 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 acquiring an additional 2,104,304 shares during the last quarter. Canoe Financial LP increased its position in Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after purchasing an additional 1,422,200 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Range Resources during the 4th quarter worth about $33,684,000. Amundi lifted its holdings in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after buying an additional 826,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 624,955 shares in the last quarter. 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.