Range Resources (NYSE:RRC) Raised to “Neutral” at JPMorgan Chase & Co.

Range Resources (NYSE:RRC) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm currently has a $45.00 target price on the oil and gas exploration company’s stock, up from their prior target price of $43.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.40% from the stock’s current price.

RRC has been the subject of a number of other reports. Truist Financial lifted their price target 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. UBS Group boosted their price objective on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Williams Trading set a $40.00 price objective on shares of Range Resources in a research report on Wednesday, March 5th. 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 assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.84.

Range Resources Stock Up 2.3 %

NYSE RRC opened at $38.33 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95. The company has a 50 day moving average of $38.31 and a 200-day moving average of $34.38. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same period in the previous year, the business earned $0.63 earnings per share. On average, equities research analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Several institutional investors have recently modified their holdings of RRC. Fuller & Thaler Asset Management Inc. grew its stake in shares of Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP bought a new stake in Range Resources during the fourth quarter valued at $33,684,000. Amundi boosted its position in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after acquiring an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after acquiring an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after acquiring an additional 605,315 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.