Stephens Increases Range Resources (NYSE:RRC) Price Target to $44.00

Range Resources (NYSE:RRC) had its price target upped by research analysts at Stephens from $43.00 to $44.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ target price points to a potential upside of 16.22% from the company’s previous close.

RRC has been the subject of a number of other research reports. StockNews.com raised Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Mizuho increased their price objective 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. Citigroup boosted their target price on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.83.

Range Resources Price Performance

RRC opened at $37.86 on Wednesday. The firm has a market capitalization of $9.14 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78. The business’s 50-day moving average is $37.71 and its two-hundred day moving average is $33.83. 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.

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

Institutional Trading of Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Brooklyn Investment Group purchased a new stake in shares of Range Resources during the 3rd quarter worth about $25,000. Smartleaf Asset Management LLC boosted its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. boosted its position in 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 worth $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Range Resources in the fourth quarter valued at approximately $42,000. Finally, Blue Trust Inc. increased its position in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. 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.