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

Range Resources (NYSE:RRC) had its price objective raised by equities research analysts at Raymond James from $46.00 to $55.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price target points to a potential upside of 36.78% from the company’s current price.

A number of other equities research analysts have also recently commented on RRC. Barclays set a $43.00 price objective on Range Resources and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $49.00 in a report on Wednesday, March 26th. StockNews.com upgraded shares of Range Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Finally, Mizuho boosted their price objective on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.60.

Range Resources Trading Up 0.7 %

Shares of RRC stock opened at $40.21 on Monday. The company has a market cap of $9.70 billion, a P/E ratio of 20.31, a PEG ratio of 5.11 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The stock has a 50 day simple moving average of $38.48 and a two-hundred day simple moving average of $35.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Boston Partners boosted its holdings in shares of Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after purchasing an additional 371,777 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after buying an additional 624,955 shares during the last quarter. Lingotto Investment Management LLP increased its stake in shares of Range Resources by 2.5% during the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after acquiring an additional 2,104,304 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Range Resources by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares during the period. Hedge funds and other 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.