Range Resources (NYSE:RRC) PT Raised to $39.00

Range Resources (NYSE:RRC) had its price target lifted by equities researchers at Stifel Nicolaus from $36.00 to $39.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target points to a potential upside of 3.26% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Mizuho reaffirmed a “buy” rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, April 11th. Raymond James decreased their price target on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Susquehanna upped their price target on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com raised shares of Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Finally, Piper Sandler upped their price objective on shares of Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.40.

Range Resources Trading Up 3.3 %

RRC stock opened at $37.77 on Tuesday. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 10.67 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $33.52 and a 200-day simple moving average of $32.37. Range Resources has a 52 week low of $23.92 and a 52 week high of $37.89.

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

Hedge Funds Weigh In On Range Resources

Large investors have recently modified their holdings of the stock. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Range Resources during the first quarter worth about $620,000. Louisiana State Employees Retirement System raised its stake in Range Resources by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 69,400 shares of the oil and gas exploration company’s stock worth $2,389,000 after acquiring an additional 1,600 shares during the period. Confluence Wealth Services Inc. acquired a new stake in Range Resources during the first quarter worth about $414,000. Drive Wealth Management LLC raised its stake in Range Resources by 15.1% during the first quarter. Drive Wealth Management LLC now owns 8,109 shares of the oil and gas exploration company’s stock worth $279,000 after acquiring an additional 1,061 shares during the period. Finally, Outlook Wealth Advisors LLC raised its stake in Range Resources by 28.8% during the first quarter. Outlook Wealth Advisors LLC now owns 9,181 shares of the oil and gas exploration company’s stock worth $316,000 after acquiring an additional 2,051 shares during the period. 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.