Wells Fargo & Company Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its price target boosted by investment analysts at Wells Fargo & Company from $43.00 to $46.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 18.46% from the stock’s previous close.

RRC has been the topic of a number of other research reports. Mizuho raised their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Bank of America reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research note on Friday, January 16th. JPMorgan Chase & Co. restated an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. TD Cowen upgraded Range Resources to a “hold” rating in a research note on Monday, February 9th. Finally, Citigroup lowered their price target on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.29.

Range Resources Stock Performance

Shares of RRC stock traded down $0.30 on Thursday, hitting $38.83. The company’s stock had a trading volume of 608,107 shares, compared to its average volume of 3,210,595. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day moving average is $35.91 and its 200-day moving average is $36.27. The company has a market capitalization of $9.20 billion, a PE ratio of 14.16, a PEG ratio of 0.35 and a beta of 0.58.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The firm had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.53%. The business’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Equities research analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Several institutional investors have recently modified their holdings of RRC. Hantz Financial Services Inc. raised its position in Range Resources by 1,464.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 703 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Range Resources during the fourth quarter worth about $34,000. True Wealth Design LLC lifted its stake in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 541 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Finally, Allworth Financial LP boosted its holdings in Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 731 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

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.