Range Resources (NYSE:RRC) Price Target Raised to $43.00

Range Resources (NYSE:RRC) had its target price increased by equities research analysts at The Goldman Sachs Group from $39.00 to $43.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 9.61% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Truist Financial boosted their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Citigroup boosted their price objective on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Barclays raised their price target on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.44.

Range Resources Stock Performance

NYSE:RRC traded down $0.34 during mid-day trading on Wednesday, hitting $39.23. 498,548 shares of the stock were exchanged, compared to its average volume of 2,584,415. The firm’s 50-day simple moving average is $36.92 and its 200 day simple moving average is $33.20. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 19.81 and a beta of 1.77. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Range Resources in the third quarter worth about $25,000. Smartleaf Asset Management LLC increased its holdings in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares in the last quarter. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter worth $46,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.