Piper Sandler Boosts Range Resources (NYSE:RRC) Price Target to $32.00

Range Resources (NYSE:RRC) had its target price increased by analysts at Piper Sandler from $30.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price would suggest a potential downside of 14.70% from the company’s current price.

RRC has been the subject of a number of other reports. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Friday, January 3rd. Mizuho lifted their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.00.

Range Resources Trading Down 0.2 %

Range Resources stock opened at $37.52 on Wednesday. Range Resources has a one year low of $27.29 and a one year high of $41.95. The business’s fifty day moving average is $36.51 and its 200 day moving average is $32.92. The stock has a market capitalization of $9.05 billion, a PE ratio of 18.95 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Investors Weigh In On Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in shares of Range Resources during the third quarter worth about $25,000. UMB Bank n.a. grew its holdings in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Range Resources during the fourth quarter valued at approximately $46,000. Blue Trust Inc. lifted its holdings in shares of Range Resources by 107.8% in 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. Finally, Versant Capital Management Inc boosted its position in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the last quarter. 98.93% of the stock is owned by 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.