Stephens Raises Range Resources (NYSE:RRC) Price Target to $42.00

Range Resources (NYSE:RRC) had its price objective increased by equities research analysts at Stephens from $41.00 to $42.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price objective would suggest a potential upside of 11.23% from the company’s previous close.

A number of other research analysts have also recently commented on RRC. Truist Financial decreased their price target 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. Stifel Nicolaus upped their price target on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark cut Range Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Morgan Stanley increased their price objective on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Finally, Barclays assumed coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective on the stock. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.40.

Range Resources Trading Up 3.2 %

RRC traded up $1.18 during trading hours on Wednesday, reaching $37.76. The company’s stock had a trading volume of 1,543,617 shares, compared to its average volume of 2,526,863. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50-day moving average is $33.34 and its 200-day moving average is $32.33. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $37.88. The stock has a market cap of $9.14 billion, a PE ratio of 10.50 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts predict that Range Resources will post 1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Orser Capital Management LLC grew its holdings in shares of Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after buying an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its holdings in shares of Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after buying an additional 431 shares during the last quarter. Fifth Third Bancorp lifted its position in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares during the period. Lmcg Investments LLC lifted its position in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares during the period. Finally, Xponance Inc. lifted its position in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after purchasing an additional 579 shares during the period. 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.