Range Resources (NYSE:RRC) Rating Increased to Neutral at JPMorgan Chase & Co.

Range Resources (NYSE:RRC) was upgraded by stock analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 price target on the oil and gas exploration company’s stock, up from their previous price target of $43.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 19.59% from the stock’s current price.

A number of other research analysts have also issued reports on RRC. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Truist Financial boosted their price objective on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler lifted their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Stephens increased their price target on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.84.

Range Resources Stock Up 0.5 %

Shares of Range Resources stock opened at $37.63 on Thursday. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 5.11 and a beta of 1.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s 50 day simple moving average is $38.23 and its 200-day simple moving average is $34.30.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the business posted $0.63 earnings per share. Equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently made changes to their positions in the company. Boston Partners boosted its stake in Range Resources by 4.9% in the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after purchasing an additional 371,777 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after buying an additional 624,955 shares during the period. Lingotto Investment Management LLP grew its holdings in shares of Range Resources by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after buying an additional 2,104,304 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. Institutional investors and hedge funds 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.