Citigroup Boosts Range Resources (NYSE:RRC) Price Target to $37.00

Range Resources (NYSE:RRCGet Free Report) had its target price lifted by stock analysts at Citigroup from $33.00 to $37.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Citigroup’s target price would indicate a potential upside of 5.53% from the company’s previous close.

Several other research firms have also recently weighed in on RRC. JPMorgan Chase & Co. cut Range Resources from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $33.00 to $32.00 in a research report on Wednesday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Range Resources in a report on Tuesday, March 5th. Morgan Stanley upped their price target on Range Resources from $22.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday, March 28th. Raymond James cut their price target on Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Truist Financial cut their price target on Range Resources from $33.00 to $32.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.11.

Check Out Our Latest Analysis on Range Resources

Range Resources Stock Up 0.2 %

Shares of RRC stock traded up $0.06 on Wednesday, reaching $35.06. 154,751 shares of the company’s stock traded hands, compared to its average volume of 2,604,976. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.88. 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 company has a market capitalization of $8.49 billion, a P/E ratio of 9.89 and a beta of 1.83. The business’s 50 day moving average price is $31.36 and its two-hundred day moving average price is $31.87.

Range Resources (NYSE:RRCGet Free Report) last issued its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 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 $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s quarterly revenue was down 42.3% compared to the same quarter last year. On average, equities analysts forecast that Range Resources will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alliance Wealth Advisors LLC UT raised its position in shares of Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after buying an additional 431 shares in the last quarter. Fifth Third Bancorp increased its stake in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. Lmcg Investments LLC increased its stake in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after acquiring an additional 546 shares during the last quarter. Xponance Inc. increased its stake in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after acquiring an additional 579 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its stake in Range Resources by 9.4% in the fourth quarter. Octavia Wealth Advisors LLC now owns 6,857 shares of the oil and gas exploration company’s stock valued at $209,000 after acquiring an additional 590 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

About Range Resources

(Get Free Report)

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.

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