The Goldman Sachs Group Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its target price raised by stock analysts at The Goldman Sachs Group from $39.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas exploration company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 10.82% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Mizuho raised their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Truist Financial raised their price objective on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Piper Sandler raised their price objective on shares of Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.78.

Range Resources Price Performance

NYSE:RRC opened at $38.80 on Wednesday. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.60 and a beta of 1.77. The company has a 50-day moving average of $37.08 and a 200-day moving average of $33.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RRC. M&T Bank Corp lifted its position in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares in the last quarter. Commerce Bank increased its holdings in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after purchasing an additional 378 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after purchasing an additional 379 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in shares of Range Resources by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after purchasing an additional 390 shares during 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.