Range Resources (NYSE:RRC) Given New $36.00 Price Target at UBS Group

Range Resources (NYSE:RRC) had its price target lowered by UBS Group from $41.00 to $36.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. UBS Group’s price objective would suggest a potential upside of 8.23% from the company’s previous close.

RRC has been the subject of a number of other research reports. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research note on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a report on Friday, January 17th. StockNews.com upgraded shares of Range Resources from a “sell” rating to a “hold” rating in a research report on Saturday. Truist Financial lifted their price target on shares of Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Finally, Williams Trading set a $40.00 target price on Range Resources in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.70.

Range Resources Stock Performance

Shares of Range Resources stock traded down $0.19 during trading hours on Monday, reaching $33.26. 3,641,690 shares of the stock traded hands, compared to its average volume of 2,379,529. Range Resources has a one year low of $27.29 and a one year high of $41.95. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $38.29 and a 200 day moving average price of $35.54.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities research analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in shares of Range Resources by 59.9% in the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock valued at $4,045,000 after purchasing an additional 49,276 shares in the last quarter. Quantinno Capital Management LP purchased a new position in Range Resources during the third quarter valued at approximately $234,000. Weiss Asset Management LP bought a new position in Range Resources in the third quarter worth approximately $490,000. Barclays PLC lifted its holdings in Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after buying an additional 142,938 shares during the period. Finally, M&T Bank Corp boosted its position in Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after acquiring an additional 327 shares in the last quarter. 98.93% of the stock is currently owned by 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.