Range Resources (NYSE:RRC) Given New $39.00 Price Target at Stifel Nicolaus

Range Resources (NYSE:RRC) had its target price boosted by investment analysts at Stifel Nicolaus from $36.00 to $39.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 5.81% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and lifted their price target for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Piper Sandler lifted their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho reiterated a “buy” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Finally, Citigroup lifted their target price on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Range Resources Stock Up 2.1 %

NYSE:RRC traded up $0.75 during mid-day trading on Tuesday, hitting $36.86. 979,660 shares of the company’s stock were exchanged, compared to its average volume of 2,518,497. The company has a market cap of $8.92 billion, a PE ratio of 10.41 and a beta of 1.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. Range Resources has a one year low of $23.92 and a one year high of $37.88. The business has a fifty day moving average price of $33.18 and a 200 day moving average price of $32.30.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.21. The company had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm’s quarterly revenue was down 42.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. Equities analysts predict that Range Resources will post 1.94 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RRC. Boston Partners lifted its holdings in Range Resources by 1,858.7% during the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after purchasing an additional 6,070,900 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after purchasing an additional 90,028 shares during the period. Invesco Ltd. increased its stake in Range Resources by 22.4% in the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after buying an additional 693,970 shares in the last quarter. Kopernik Global Investors LLC raised its holdings in Range Resources by 2.7% during the fourth quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after acquiring an additional 82,095 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Range Resources by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock worth $54,208,000 after purchasing an additional 64,810 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other 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.