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

Range Resources (NYSE:RRC) had its price objective boosted by Piper Sandler from $30.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price target would suggest a potential downside of 14.70% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on RRC. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Wells Fargo & Company upped 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. Truist Financial lifted their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Finally, UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and boosted their target price for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Range Resources Stock Down 0.2 %

Shares of RRC opened at $37.52 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 18.95 and a beta of 1.81. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The business’s 50 day simple moving average is $36.51 and its 200-day simple moving average is $32.92.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently made changes to their positions in RRC. M&T Bank Corp raised its stake in Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares during the last quarter. Commerce Bank raised its position in shares of Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Range Resources by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after purchasing an additional 420 shares in the last quarter. UMB Bank n.a. grew its position in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. Finally, Inscription Capital LLC increased its stake in Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. 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.