Range Resources (NYSE:RRC) Price Target Increased to $39.00 by Analysts at Stifel Nicolaus

Range Resources (NYSE:RRC) had its price objective lifted by equities researchers at Stifel Nicolaus from $36.00 to $39.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 3.26% from the stock’s previous close.

Several other brokerages have also issued reports on RRC. Susquehanna boosted their price target on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday. Piper Sandler boosted their price target on Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Truist Financial lowered their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Finally, Raymond James lowered their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.40.

Range Resources Price Performance

NYSE RRC opened at $37.77 on Tuesday. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $9.14 billion, a PE ratio of 10.67 and a beta of 1.83. The stock has a 50-day simple moving average of $33.52 and a 200 day simple moving average of $32.37.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year. Research analysts anticipate that Range Resources will post 1.9 EPS for the current year.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently bought and sold shares of RRC. Boston Partners grew its position in Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock worth $194,722,000 after acquiring an additional 6,070,900 shares during the last quarter. Invesco Ltd. lifted its holdings in Range Resources by 22.4% during the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after buying an additional 693,970 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Range Resources during the 3rd quarter worth $19,704,000. Lord Abbett & CO. LLC lifted its holdings in Range Resources by 66.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,463,000 shares of the oil and gas exploration company’s stock worth $47,416,000 after buying an additional 585,000 shares in the last quarter. Finally, Canoe Financial LP lifted its holdings in Range Resources by 86.5% during the 3rd quarter. Canoe Financial LP now owns 1,195,400 shares of the oil and gas exploration company’s stock worth $38,743,000 after buying an additional 554,400 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.