Range Resources (NYSE:RRC) Price Target Increased to $37.00 by Analysts at Stephens

Range Resources (NYSE:RRC) had its target price hoisted by research analysts at Stephens from $36.00 to $37.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ target price would suggest a potential upside of 17.68% from the company’s current price.

RRC has been the subject of a number of other reports. UBS Group cut their price objective on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Wednesday, September 18th. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Finally, Wolfe Research started coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.12.

Range Resources Price Performance

RRC opened at $31.44 on Wednesday. The firm has a 50-day moving average price of $30.23 and a 200-day moving average price of $33.06. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a twelve month low of $27.29 and a twelve month high of $39.33. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 15.96 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period last year, the business earned $0.43 earnings per share. Range Resources’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Range Resources will post 1.88 EPS for the current year.

Insider Buying and Selling

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently bought and sold shares of RRC. Inscription Capital LLC increased its position in shares of Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares during the last quarter. Canoe Financial LP increased its holdings in Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after acquiring an additional 1,422,200 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Range Resources by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 28,086 shares of the oil and gas exploration company’s stock valued at $863,000 after buying an additional 1,905 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Range Resources during the 3rd quarter valued at approximately $49,000. Finally, International Assets Investment Management LLC grew its holdings in Range Resources by 2,976.0% during the 3rd quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company’s stock valued at $2,000,000 after buying an additional 59,520 shares in the last quarter. 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.