Range Resources (NYSE:RRC) Price Target Lowered to $32.00 at Piper Sandler

Range Resources (NYSE:RRC - Get Free Report) had its price objective dropped by equities research analysts at Piper Sandler from $33.00 to $32.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas exploration company's stock. Piper Sandler's price target would suggest a potential downside of 8.13% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price target on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Citigroup lowered Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. StockNews.com lowered shares of Range Resources from a "hold" rating to a "sell" rating in a report on Tuesday, April 15th. Raymond James lifted their target price on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and increased their price target for the company from $43.00 to $45.00 in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $41.50.

Range Resources Price Performance

RRC stock traded up $0.97 during trading on Tuesday, hitting $34.83. The stock had a trading volume of 2,827,194 shares, compared to its average volume of 2,452,653. The company's 50-day moving average price is $36.72 and its two-hundred day moving average price is $35.75. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a market capitalization of $8.41 billion, a P/E ratio of 17.59, a PEG ratio of 5.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the company earned $0.63 EPS. As a group, research analysts predict that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in RRC. Bessemer Group Inc. grew its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after acquiring an additional 315 shares in the last quarter. Fifth Third Bancorp raised its position in Range Resources by 20.6% in the 1st quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company's stock valued at $83,000 after purchasing an additional 355 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Range Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock valued at $268,000 after buying an additional 378 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after buying an additional 379 shares during the period. Finally, King Luther Capital Management Corp grew its position in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock worth $1,130,000 after buying an additional 390 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other 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.