Stifel Nicolaus Raises Range Resources (NYSE:RRC) Price Target to $39.00

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

Other analysts also recently issued reports about the company. Truist Financial reduced their price objective on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Raymond James dropped their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Benchmark lowered Range Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Range Resources in a report on Tuesday, April 9th. Finally, Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Five equities 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 company. Based on data from MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average target price of $36.00.

Range Resources Trading Up 2.1 %

NYSE:RRC traded up $0.75 during trading hours on Tuesday, hitting $36.86. The company had a trading volume of 979,660 shares, compared to its average volume of 2,518,497. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a market cap of $8.92 billion, a P/E ratio of 10.41 and a beta of 1.83. The company has a 50-day moving average of $33.18 and a 200 day moving average of $32.30. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in shares of Range Resources in the 3rd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. increased its position in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 666 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources during the 3rd quarter valued at approximately $27,000. Proffitt & Goodson Inc. purchased a new position in Range Resources in the 3rd quarter valued at $32,000. Finally, Larson Financial Group LLC increased its stake in Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares during the period. 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.