Range Resources (NYSE:RRC) Price Target Raised to $45.00 at TD Cowen

Range Resources (NYSE:RRC) had its target price upped by analysts at TD Cowen from $40.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. TD Cowen’s price objective would suggest a potential upside of 2.97% from the company’s previous close.

A number of other research analysts also recently weighed in on RRC. 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. Wells Fargo & Company upped their target price on Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. UBS Group lifted their price target on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Citigroup boosted their price objective on shares of Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.44.

Range Resources Stock Up 0.3%

Shares of RRC stock traded up $0.11 on Tuesday, hitting $43.70. The company’s stock had a trading volume of 471,386 shares, compared to its average volume of 3,369,821. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 0.40 and a beta of 0.57. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $44.56. The firm’s fifty day moving average price is $37.61 and its 200-day moving average price is $37.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. During the same period in the prior year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 30.9% on a year-over-year basis. Research analysts anticipate that Range Resources will post 2.02 EPS for the current year.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at about $34,000. True Wealth Design LLC boosted its position 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 valued at $38,000 after acquiring an additional 541 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Allworth Financial LP increased its stake in Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after acquiring an additional 731 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in Range Resources in the fourth quarter valued at about $57,000. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Company Profile

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.