Range Resources (NYSE:RRC) PT Raised to $18.00

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Range Resources (NYSE:RRC) had its price target raised by analysts at TD Securities from $17.00 to $18.00 in a research report issued to clients and investors on Wednesday, October 17th. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. TD Securities’ target price would indicate a potential upside of 1.69% from the stock’s current price.

RRC has been the subject of a number of other research reports. Royal Bank of Canada set a $21.00 price objective on shares of Range Resources and gave the company a “buy” rating in a report on Thursday, September 20th. Morgan Stanley cut their target price on shares of Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, August 16th. Capital One Financial raised shares of Range Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 31st. B. Riley raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $22.00 in a research note on Thursday, September 20th. Finally, KLR Group reissued a “buy” rating and set a $23.00 target price on shares of Range Resources in a research note on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Range Resources presently has an average rating of “Hold” and a consensus price target of $22.55.

NYSE RRC traded up $0.64 on Wednesday, reaching $17.70. 10,623,583 shares of the company’s stock traded hands, compared to its average volume of 7,249,811. The company has a market capitalization of $4.36 billion, a PE ratio of 15.32, a P/E/G ratio of 1.23 and a beta of 0.58. Range Resources has a fifty-two week low of $11.93 and a fifty-two week high of $19.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The company had revenue of $811.20 million during the quarter, compared to the consensus estimate of $747.06 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 68.2% on a year-over-year basis. Research analysts expect that Range Resources will post 1.04 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Soros Fund Management LLC acquired a new position in shares of Range Resources in the 2nd quarter worth approximately $2,928,000. ANTIPODES PARTNERS Ltd increased its stake in Range Resources by 54.6% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock worth $97,541,000 after buying an additional 2,058,057 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Range Resources by 84.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock worth $1,087,000 after buying an additional 29,676 shares during the period. PNC Financial Services Group Inc. increased its stake in Range Resources by 11.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock worth $1,282,000 after buying an additional 8,054 shares during the period. Finally, Putnam Investments LLC purchased a new stake in Range Resources during the 2nd quarter worth approximately $776,000.

Range Resources Company Profile

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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Analyst Recommendations for Range Resources (NYSE:RRC)

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