Stephens Raises Range Resources (NYSE:RRC) Price Target to $43.00

Range Resources (NYSE:RRC) had its price target lifted by equities research analysts at Stephens from $39.00 to $43.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price objective suggests a potential upside of 14.62% from the stock’s current price.

RRC has been the subject of several other reports. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Wolfe Research raised shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Truist Financial increased their target price 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. Three investment 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. Based on data from MarketBeat, Range Resources currently has an average rating of “Hold” and an average price target of $38.00.

Range Resources Price Performance

Range Resources stock opened at $37.52 on Wednesday. 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 fifty day simple moving average of $36.51 and a 200-day simple moving average of $32.92. The stock has a market cap of $9.05 billion, a P/E ratio of 18.95 and a beta of 1.81. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95.

Hedge Funds Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Range Resources in the third quarter valued at about $25,000. UMB Bank n.a. increased its position 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 worth $41,000 after purchasing an additional 426 shares during the period. Blue Trust Inc. raised its stake in shares of Range Resources by 107.8% during the 3rd 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. Geneos Wealth Management Inc. acquired a new position in Range Resources during the fourth quarter worth $46,000. Finally, Bogart Wealth LLC purchased a new position in Range Resources in the third quarter worth $49,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

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.