Barclays Boosts Range Resources (NYSE:RRC) Price Target to $40.00

Range Resources (NYSE:RRC) had its target price lifted by research analysts at Barclays from $34.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays‘s price objective indicates a potential upside of 8.20% from the company’s previous close.

A number of other analysts also recently weighed in on RRC. Mizuho increased their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Finally, Citigroup boosted their price objective on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.00.

Range Resources Trading Down 1.6 %

Shares of RRC stock opened at $36.97 on Thursday. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.67 and a beta of 1.81. The stock has a 50-day moving average of $36.54 and a 200-day moving average of $32.93.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Range Resources during the third quarter worth about $25,000. UMB Bank n.a. boosted its stake in Range Resources by 59.0% during the 4th 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 during the last quarter. Blue Trust Inc. increased its holdings in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter worth approximately $46,000. Finally, Bogart Wealth LLC bought a new position in shares of Range Resources in the third quarter valued at approximately $49,000. Institutional investors and hedge funds 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.