Truist Financial Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its price target upped by analysts at Truist Financial from $35.00 to $37.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Truist Financial’s price objective would indicate a potential downside of 3.47% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Piper Sandler increased their price objective on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Barclays set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources from an “underweight” rating to a “neutral” rating and upped their price target for the company from $43.00 to $45.00 in a research report on Thursday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.95.

Range Resources Trading Up 2.3 %

Shares of RRC stock opened at $38.33 on Monday. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 5.11 and a beta of 1.80. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day simple moving average is $38.31 and its two-hundred day simple moving average is $34.45.

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 for the quarter, compared to the consensus estimate 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 last year, the business posted $0.63 earnings per share. As a group, analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Hedge Funds Weigh In On Range Resources

A number of institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in Range Resources during the 3rd quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. boosted its position in shares of 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. Headlands Technologies LLC purchased a new stake in Range Resources in the fourth quarter worth $42,000. Finally, Geneos Wealth Management Inc. bought a new position in Range Resources in the fourth quarter worth $46,000. 98.93% of the stock is owned by 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.