Range Resources (NYSE:RRC) Stock Price Expected to Rise, Stephens Analyst Says

Range Resources (NYSE:RRC) had its target price boosted by analysts at Stephens from $43.00 to $44.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price target points to a potential upside of 20.86% from the company’s previous close.

RRC has been the subject of a number of other research reports. Citigroup lifted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $45.00 in a report on Monday, January 13th. Barclays lifted their price objective on shares of Range Resources from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus target price of $39.00.

Range Resources Price Performance

Range Resources stock opened at $36.41 on Wednesday. The company’s 50 day simple moving average is $37.89 and its 200-day simple moving average is $33.88. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. 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 (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the firm earned $0.63 EPS. As a group, equities research analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RRC. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Range Resources by 71.3% in the 4th 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 in the last quarter. Wellington Management Group LLP acquired a new position in shares of Range Resources in the 4th quarter valued at $33,684,000. Amundi boosted its holdings in shares of Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Range Resources by 9.3% in the 4th 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. Finally, Northern Trust Corp boosted its holdings in shares of Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after buying an additional 605,315 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

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.