Range Resources (NYSE:RRC) Price Target Raised to $40.00 at Barclays

Range Resources (NYSE:RRC - Get Free Report) had its target price raised by investment analysts at Barclays from $34.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas exploration company's stock. Barclays's price objective indicates a potential upside of 7.01% from the stock's current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company lifted their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Range Resources to a "sell" rating in a research note on Wednesday, November 27th. Stephens upped their target price on shares of Range Resources from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. UBS Group upgraded Range Resources from a "sell" rating to a "neutral" rating and upped their price objective for the company from $28.00 to $35.00 in a report on Monday, December 9th. Finally, Wolfe Research raised Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price for the company in a research note on Friday, January 3rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $38.00.

Range Resources Stock Up 0.9 %

Shares of NYSE:RRC traded up $0.34 during trading on Thursday, reaching $37.38. 2,571,252 shares of the company traded hands, compared to its average volume of 2,776,764. The firm has a market cap of $9.02 billion, a P/E ratio of 18.88 and a beta of 1.78. The firm has a fifty day simple moving average of $36.57 and a 200 day simple moving average of $32.95. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On Range Resources

Large investors have recently bought and sold shares of the business. Canoe Financial LP raised its holdings in shares of Range Resources by 114.9% during the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company's stock valued at $81,299,000 after acquiring an additional 1,422,200 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Range Resources by 61.9% during the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after buying an additional 604,199 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources in the 3rd quarter valued at $11,508,000. Verition Fund Management LLC boosted its position in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company's stock worth $12,594,000 after acquiring an additional 324,011 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Range Resources by 853.0% in the third quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company's stock valued at $6,106,000 after purchasing an additional 177,689 shares in the last quarter. 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.