Range Resources (NYSE:RRC) PT Raised to $36.00

Range Resources (NYSE:RRC) had its price target increased by equities research analysts at Susquehanna from $34.00 to $36.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas exploration company’s stock. Susquehanna’s target price suggests a potential downside of 1.60% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Citigroup raised their price target on shares of Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Piper Sandler raised their price target on shares of Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Benchmark downgraded shares of Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Range Resources in a report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Range Resources to a “sell” rating in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.00.

Range Resources Stock Up 1.3 %

RRC stock opened at $36.59 on Monday. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.88. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 10.33 and a beta of 1.83. The company has a 50 day moving average of $33.34 and a two-hundred day moving average of $32.33.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Range Resources will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC bought a new position in shares of Range Resources during the 3rd quarter worth about $27,000. Schroder Investment Management Group increased its stake in Range Resources by 23.7% in the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after acquiring an additional 87,624 shares during the period. Kennedy Capital Management LLC increased its stake in Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after acquiring an additional 33,793 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Range Resources in the third quarter valued at about $19,704,000. Finally, Cambria Investment Management L.P. increased its stake in Range Resources by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after acquiring an additional 20,685 shares during the period. 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.