Range Resources (NYSE:RRC) Price Target Raised to $55.00 at Raymond James

Range Resources (NYSE:RRC) had its price objective hoisted by investment 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 suggests a potential upside of 37.23% from the company’s previous close.

RRC has been the topic of several other reports. UBS Group boosted their target price on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of Range Resources from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Finally, Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.60.

Range Resources Stock Up 2.3 %

Shares of RRC traded up $0.89 on Monday, reaching $40.08. The stock had a trading volume of 799,178 shares, compared to its average volume of 2,346,010. 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 has a 12-month low of $27.29 and a 12-month high of $41.95. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The company has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $35.22.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side analysts predict that Range Resources will post 2.02 EPS for the current year.

Institutional Investors Weigh In On Range Resources

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Range Resources by 329.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company’s stock valued at $1,772,000 after purchasing an additional 44,209 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Range Resources by 3.4% in the third quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company’s stock worth $1,650,000 after buying an additional 1,787 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Range Resources by 59.9% in the third quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock worth $4,045,000 after buying an additional 49,276 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Range Resources during the third quarter worth $11,508,000. Finally, Royal London Asset Management Ltd. increased its holdings in Range Resources by 1.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 671,954 shares of the oil and gas exploration company’s stock valued at $20,669,000 after acquiring an additional 10,385 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.