Range Resources (NYSE:RRC) Price Target Raised to $37.00

Range Resources (NYSE:RRC) had its target price upped by research analysts at Truist Financial from $35.00 to $37.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Truist Financial’s price target points to a potential downside of 3.47% from the company’s previous close.

Several other equities research analysts have also recently weighed in on RRC. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Barclays set a $43.00 target price on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Stephens raised their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Range Resources has an average rating of “Hold” and an average price target of $39.95.

Range Resources Trading Up 2.3 %

Shares of Range Resources stock opened at $38.33 on Monday. The business’s 50 day moving average is $38.31 and its 200-day moving average is $34.45. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The stock has a market cap of $9.25 billion, a P/E ratio of 19.36, a P/E/G ratio of 5.11 and a beta of 1.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 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 company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities research analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently added to or reduced their stakes in RRC. M&T Bank Corp lifted its holdings in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 327 shares in the last quarter. Commerce Bank raised its position in Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after buying an additional 369 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after acquiring an additional 378 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock worth $508,000 after acquiring an additional 379 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Range Resources by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds 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.