Range Resources (NYSE:RRC) Given New $36.00 Price Target at UBS Group

Range Resources (NYSE:RRC) had its price objective dropped by stock analysts at UBS Group from $37.00 to $36.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. UBS Group’s target price points to a potential upside of 4.33% from the company’s previous close.

A number of other brokerages have also recently weighed in on RRC. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Scotiabank downgraded 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 research report on Friday, January 17th. Stephens set a $51.00 target price on shares of Range Resources and gave the stock an “overweight” rating in a research report on Thursday, April 3rd. StockNews.com lowered shares of Range Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.43.

Range Resources Trading Up 1.2 %

Shares of RRC traded up $0.41 on Thursday, hitting $34.51. 1,909,761 shares of the stock traded hands, compared to its average volume of 2,934,051. The stock’s 50 day moving average is $37.44 and its two-hundred day moving average is $35.61. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $8.33 billion, a P/E ratio of 17.43, a P/E/G ratio of 5.11 and a beta of 1.73. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95.

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

Hedge Funds Weigh In On Range Resources

Several hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. grew its stake in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Range Resources in the 4th quarter valued at about $33,684,000. Amundi increased its stake in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after purchasing an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Range Resources by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after purchasing an additional 605,315 shares during the period. 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.