Piper Sandler Boosts Range Resources (NYSE:RRC) Price Target to $41.00

Range Resources (NYSE:RRC) had its target price upped by research analysts at Piper Sandler from $40.00 to $41.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price indicates a potential upside of 16.44% from the company’s current price.

Other research analysts have also recently issued reports about the company. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Susquehanna restated a “neutral” rating and issued a $34.00 price objective (down from $43.00) on shares of Range Resources in a research report on Friday, January 26th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Range Resources in a research report on Tuesday, April 9th. Morgan Stanley boosted their price objective on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Truist Financial lowered their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.80.

Range Resources Trading Up 1.2 %

RRC stock traded up $0.43 during midday trading on Friday, reaching $35.21. The company’s stock had a trading volume of 832,227 shares, compared to its average volume of 2,513,575. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a fifty day simple moving average of $32.89 and a two-hundred day simple moving average of $32.21. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 9.95 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. During the same period last year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was down 42.3% compared to the same quarter last year. On average, equities research analysts predict that Range Resources will post 1.91 EPS for the current year.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC bought a new position in shares of Range Resources during the third quarter valued at approximately $27,000. Schroder Investment Management Group grew its holdings in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Range Resources by 17.7% during the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Range Resources during the third quarter valued at approximately $19,704,000. Finally, Cambria Investment Management L.P. grew its holdings in shares of Range Resources by 8.5% during the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after purchasing an additional 20,685 shares during 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.