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

Range Resources (NYSE:RRC) had its price objective upped by research analysts at Raymond James from $46.00 to $55.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price objective points to a potential upside of 37.23% from the company’s current price.

A number of other research firms have also recently weighed in on RRC. Barclays set a $43.00 price objective on shares of Range Resources and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Williams Trading set a $40.00 target price on Range Resources in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group lifted their target price on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $41.60.

Range Resources Price Performance

RRC traded up $0.89 during trading hours on Monday, hitting $40.08. The company’s stock had a trading volume of 799,178 shares, compared to its average volume of 2,346,010. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 5.11 and a beta of 1.80. The business’s 50-day moving average price is $38.52 and its 200-day moving average price is $35.22. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. lifted its stake in 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 purchased a new position in shares of Range Resources in the fourth quarter valued at approximately $33,684,000. Amundi boosted its stake in shares of Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after acquiring an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in 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 purchasing 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.