Piper Sandler Increases Range Resources (NYSE:RRC) Price Target to $33.00

Range Resources (NYSE:RRC) had its price target lifted by investment analysts at Piper Sandler from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price points to a potential downside of 6.44% from the stock’s previous close.

A number of other equities research analysts also recently commented on RRC. Wells Fargo & Company lifted their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. StockNews.com raised shares of Range Resources from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Mizuho boosted their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $39.06.

Range Resources Price Performance

Shares of NYSE RRC opened at $35.27 on Thursday. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The firm has a market cap of $8.51 billion, a P/E ratio of 17.81, a PEG ratio of 5.11 and a beta of 1.77. The company has a 50 day moving average of $38.16 and a 200 day moving average of $34.11. 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 (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Trading of Range Resources

Hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in Range Resources in the 3rd quarter worth $25,000. Smartleaf Asset Management LLC lifted its stake 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 in the last quarter. UMB Bank n.a. lifted its stake in Range Resources by 59.0% in 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 in the last quarter. Headlands Technologies LLC purchased a new stake in Range Resources in the 4th quarter worth $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Range Resources in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.