Range Resources (NYSE:RRC) Price Target Raised to $41.00 at UBS Group

Range Resources (NYSE:RRC) had its target price raised by research analysts at UBS Group from $39.00 to $41.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. UBS Group’s target price points to a potential upside of 5.74% from the company’s previous close.

A number of other research firms have also recently weighed in on RRC. Piper Sandler increased their price target on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, January 3rd. Barclays increased their target price on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Range Resources currently has an average rating of “Hold” and a consensus target price of $38.78.

Range Resources Stock Up 0.8 %

Shares of Range Resources stock traded up $0.29 on Thursday, reaching $38.77. 110,187 shares of the company were exchanged, compared to its average volume of 2,564,462. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.58 and a beta of 1.77. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $36.99 and a 200 day moving average of $33.24.

Institutional Investors Weigh In On Range Resources

Several hedge funds and other institutional investors have recently modified their holdings of RRC. CWM LLC increased its holdings in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 1,694 shares in the last quarter. Creative Planning grew its holdings in Range Resources by 2.0% during the third quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock worth $1,745,000 after buying an additional 1,089 shares in the last quarter. Blue Trust Inc. grew its holdings in Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares in the last quarter. Raymond James & Associates grew its holdings in Range Resources by 4.2% during the third quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company’s stock worth $7,999,000 after buying an additional 10,391 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Range Resources by 2,976.0% during the third quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company’s stock worth $2,000,000 after buying an additional 59,520 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

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.