Morgan Stanley set a $17.00 price target on Range Resources (NYSE:RRC) in a research note published on Monday, October 29th. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.
Several other equities research analysts also recently weighed in on the stock. Guggenheim restated a buy rating and issued a $22.00 target price on shares of Range Resources in a research note on Wednesday, October 24th. TD Securities raised their target price on shares of Range Resources from $18.00 to $19.00 and gave the company a hold rating in a research note on Wednesday, October 24th. Piper Jaffray Companies set a $29.00 target price on shares of Range Resources and gave the company a buy rating in a research note on Tuesday, October 23rd. B. Riley raised their target price on shares of Range Resources from $22.00 to $29.00 and gave the company a buy rating in a research note on Thursday, October 18th. Finally, Macquarie set a $18.00 target price on shares of Range Resources and gave the company a hold rating in a research note on Wednesday, September 26th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $22.16.
RRC stock traded up $0.37 during trading on Monday, hitting $16.09. 5,506,825 shares of the company’s stock traded hands, compared to its average volume of 8,352,073. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.22 and a beta of 0.58. Range Resources has a 1 year low of $11.93 and a 1 year high of $18.93. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The company had revenue of $811.20 million during the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. Range Resources’s revenue was up 68.2% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. Analysts anticipate that Range Resources will post 1.02 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. St. Johns Investment Management Company LLC acquired a new position in Range Resources during the second quarter valued at $100,000. DekaBank Deutsche Girozentrale lifted its position in Range Resources by 265.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 6,660 shares of the oil and gas exploration company’s stock valued at $110,000 after purchasing an additional 4,840 shares during the period. Penserra Capital Management LLC lifted its position in Range Resources by 94.9% during the third quarter. Penserra Capital Management LLC now owns 9,860 shares of the oil and gas exploration company’s stock valued at $166,000 after purchasing an additional 4,800 shares during the period. Caxton Associates LP acquired a new position in Range Resources during the third quarter valued at $195,000. Finally, Palo Capital Inc. acquired a new position in Range Resources during the third quarter valued at $198,000.
About Range Resources
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.
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