Range Resources (NYSE:RRC) Price Target Raised to $55.00

Range Resources (NYSE:RRC - Get Free Report) had its target price upped by research analysts at Raymond James from $46.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the oil and gas exploration company's stock. Raymond James' target price would indicate a potential upside of 64.15% from the stock's current price.

RRC has been the topic of a number of other research reports. StockNews.com raised Range Resources from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Piper Sandler increased their price objective on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Morgan Stanley raised shares of Range Resources from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $40.00 to $49.00 in a research note on Wednesday, March 26th. Stephens increased their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Mizuho boosted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $41.60.

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Range Resources Price Performance

Shares of NYSE RRC traded down $4.57 during midday trading on Monday, reaching $33.51. 5,937,495 shares of the company traded hands, compared to its average volume of 2,374,618. The stock's 50-day simple moving average is $38.43 and its 200-day simple moving average is $35.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a market cap of $8.09 billion, a PE ratio of 16.92, a PEG ratio of 5.11 and a beta of 1.73.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its position in Range Resources by 4.9% in the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after acquiring an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after buying an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Range Resources by 2.5% during the 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after purchasing an additional 165,242 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position 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 during the last quarter. Finally, Geode Capital Management LLC boosted its position in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock worth $123,174,000 after purchasing an additional 35,344 shares during the period. 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.