Range Resources (NYSE:RRC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Range Resources (NYSE:RRC) had its target price upped by research analysts at Piper Sandler from $32.00 to $33.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price suggests a potential downside of 12.19% from the stock’s current price.

Several other brokerages also recently commented on RRC. Mizuho boosted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Citigroup boosted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, UBS Group boosted their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.06.

Range Resources Trading Down 0.7 %

Shares of NYSE:RRC opened at $37.58 on Thursday. 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 $9.07 billion, a PE ratio of 18.98, a P/E/G ratio of 5.11 and a beta of 1.77. The business has a 50 day moving average of $38.08 and a 200-day moving average of $34.08. 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 issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, 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

Several large investors have recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in Range Resources in the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. raised its position in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Range Resources during the 4th quarter valued at $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the 4th quarter valued at $46,000. Hedge funds and other institutional investors 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.