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

Range Resources (NYSE:RRC) had its price target raised by equities research analysts at Piper Sandler from $32.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price target indicates a potential downside of 12.19% from the stock’s current price.

Several other brokerages have also recently commented on RRC. Citigroup raised their target price on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. The Goldman Sachs Group raised their target price on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. UBS Group raised their target price on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.06.

Range Resources Stock Down 0.7 %

RRC opened at $37.58 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 capitalization of $9.07 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 5.11 and a beta of 1.77. The business has a 50 day moving average of $38.08 and a 200-day moving average of $34.08.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, sell-side analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources in the 3rd quarter valued at about $11,508,000. Calamos Advisors LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at about $567,000. Radnor Capital Management LLC increased its position in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after acquiring an additional 26,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Range Resources by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after acquiring an additional 92,217 shares during 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.