Stephens Raises Range Resources (NYSE:RRC) Price Target to $42.00

Range Resources (NYSE:RRC) had its target price raised by analysts at Stephens from $41.00 to $42.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price objective points to a potential upside of 11.23% from the stock’s previous close.

RRC has been the subject of a number of other research reports. Raymond James reduced their price objective on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Mizuho reissued a “buy” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, March 13th. Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays began coverage on Range Resources in a report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price target for the company. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.40.

Range Resources Stock Up 3.2 %

Shares of RRC stock traded up $1.18 during mid-day trading on Wednesday, hitting $37.76. The company’s stock had a trading volume of 1,543,617 shares, compared to its average volume of 2,526,863. Range Resources has a 52-week low of $23.92 and a 52-week high of $37.88. The business has a 50-day moving average price of $33.34 and a 200 day moving average price of $32.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 10.50 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. The company’s revenue was down 15.7% on a year-over-year basis. Research analysts predict that Range Resources will post 1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources during the third quarter valued at approximately $27,000. Schroder Investment Management Group raised its holdings in shares of Range Resources by 23.7% in the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after buying an additional 87,624 shares during the period. Kennedy Capital Management LLC raised its holdings in shares of Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after buying an additional 33,793 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Range Resources in the third quarter worth approximately $19,704,000. Finally, Cambria Investment Management L.P. raised its holdings in shares of Range Resources by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after buying an additional 20,685 shares during the period. 98.93% of the stock is currently owned by hedge funds and other 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.