The Goldman Sachs Group Issues Positive Forecast for Range Resources (NYSE:RRC) Stock Price

Range Resources (NYSE:RRC) had its price target raised by analysts at The Goldman Sachs Group from $39.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 9.61% from the company’s previous close.

A number of other brokerages have also recently issued reports on RRC. Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Mizuho increased their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and lifted their target price for the company from $28.00 to $35.00 in a report on Monday, December 9th. Finally, Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.44.

Range Resources Stock Performance

Shares of RRC traded down $0.34 during mid-day trading on Wednesday, hitting $39.23. 498,548 shares of the company’s stock were exchanged, compared to its average volume of 2,584,415. 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 business’s 50 day moving average is $36.92 and its two-hundred day moving average is $33.20. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a market capitalization of $9.47 billion, a P/E ratio of 19.81 and a beta of 1.77.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently bought and sold shares of RRC. Pictet Asset Management Holding SA grew its position in Range Resources by 5.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,114 shares of the oil and gas exploration company’s stock worth $1,227,000 after purchasing an additional 1,891 shares in the last quarter. Easterly Investment Partners LLC lifted its position in shares of Range Resources by 20.2% in the fourth quarter. Easterly Investment Partners LLC now owns 144,959 shares of the oil and gas exploration company’s stock worth $5,216,000 after purchasing an additional 24,400 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Range Resources during the fourth quarter worth approximately $825,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Range Resources during the fourth quarter valued at approximately $212,000. Finally, Congress Wealth Management LLC DE increased its stake in Range Resources by 7.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 79,037 shares of the oil and gas exploration company’s stock valued at $2,844,000 after buying an additional 5,160 shares during the period. Institutional investors and hedge funds 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.