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

Range Resources (NYSE:RRC) had its price objective lifted by research analysts at Barclays from $42.00 to $67.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays‘s price target indicates a potential upside of 29.14% from the company’s previous close.

Several other brokerages have also recently issued reports on RRC. Susquehanna upped their price objective on shares of Range Resources from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Freedom Broker lowered shares of Range Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. BMO Capital Markets restated a “market perform” rating on shares of Range Resources in a report on Monday, October 5th. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Finally, Stephens boosted their price objective on Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average price target of $47.61.

Range Resources Price Performance

RRC traded up $0.42 on Friday, hitting $51.88. 247,585 shares of the company’s stock were exchanged, compared to its average volume of 3,391,548. Range Resources has a fifty-two week low of $32.68 and a fifty-two week high of $56.90. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 13.75 and a beta of 0.64. The firm has a 50-day moving average price of $43.95 and a 200-day moving average price of $41.06. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $842.83 million during the quarter, compared to analysts’ expectations of $795.19 million. Range Resources had a net margin of 25.25% and a return on equity of 19.15%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. As a group, equities analysts anticipate that Range Resources will post 3.85 earnings per share for the current year.

Institutional Trading of Range Resources

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Range Resources during the second quarter worth approximately $26,000. Heritage Family Offices LLP purchased a new position in Range Resources in the third quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Range Resources in the second quarter worth approximately $31,000. Root Financial Partners LLC purchased a new position in Range Resources in the third quarter worth approximately $35,000. Finally, Ameritas Advisory Services LLC purchased a new position in Range Resources in the second quarter worth approximately $44,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

Range Resources Corporation is an independent energy company focused on exploring for, developing and producing natural gas, natural gas liquids and crude oil. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania. The company also markets and sells its production to customers in the energy and industrial sectors. Range Resources has played a significant role in developing the Marcellus Shale, a major natural gas-producing formation in the United States.