Range Resources (NYSE:RRC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Range Resources (NYSE:RRC) had its price objective increased by stock analysts at Piper Sandler from $37.00 to $41.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price indicates a potential downside of 2.75% from the company’s previous close.

Other analysts also recently issued reports about the company. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. UBS Group raised their target price on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Wells Fargo & Company boosted their price target on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 price objective (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Finally, Barclays upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.63.

Range Resources Trading Up 1.5%

NYSE RRC traded up $0.61 on Thursday, reaching $42.16. The company had a trading volume of 1,340,501 shares, compared to its average volume of 3,311,592. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.38 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The business has a 50 day moving average of $36.51 and a two-hundred day moving average of $36.51.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 30.9% on a year-over-year basis. Analysts forecast that Range Resources will post 2.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its holdings in shares of Range Resources by 43.5% in the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock valued at $14,626,000 after acquiring an additional 117,722 shares in the last quarter. Laffer Tengler Investments Inc. bought a new stake in Range Resources during the second quarter worth $370,000. Congress Asset Management Co. raised its stake in shares of Range Resources by 12.1% in the third quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock valued at $20,299,000 after buying an additional 58,335 shares during the period. Oppenheimer & Co. Inc. raised its stake in Range Resources by 753.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after acquiring an additional 79,613 shares during the period. Finally, Builder Investment Group Inc. ADV lifted its holdings in Range Resources by 84.5% during the third quarter. Builder Investment Group Inc. ADV now owns 136,820 shares of the oil and gas exploration company’s stock valued at $5,150,000 after purchasing an additional 62,675 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.