Range Resources (NYSE:RRC) Stock Rating Upgraded by Roth Mkm

Range Resources (NYSE:RRC - Get Free Report) was upgraded by Roth Mkm from a "neutral" rating to a "buy" rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $42.00 target price on the oil and gas exploration company's stock, up from their previous target price of $41.00. Roth Mkm's price target would indicate a potential upside of 26.08% from the company's current price.

A number of other research analysts have also commented on the company. Morgan Stanley raised Range Resources from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $40.00 to $49.00 in a research report on Wednesday, March 26th. Raymond James upped their target price on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a report on Monday, March 31st. The Goldman Sachs Group lifted their price target on shares of Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Piper Sandler upped 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. Finally, Scotiabank cut shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 target price for the company. in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of "Hold" and an average price target of $41.81.

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Range Resources Trading Up 3.3 %

Shares of Range Resources stock traded up $1.06 on Tuesday, hitting $33.31. The stock had a trading volume of 3,499,772 shares, compared to its average volume of 2,426,979. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a one year low of $27.29 and a one year high of $41.95. The stock's 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $35.58. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 5.11 and a beta of 1.73.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Range Resources during the 4th quarter valued at $42,000. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc boosted its stake in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock worth $56,000 after purchasing an additional 463 shares during the period. 98.93% of the stock is 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.