Analysts at MKM Partners initiated coverage on shares of Range Resources (NYSE:RRC) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $17.00 price target on the oil and gas exploration company’s stock. MKM Partners’ price objective points to a potential upside of 22.39% from the stock’s current price.

Several other equities analysts have also issued reports on the company. B. Riley raised Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $17.00 to $22.00 in a research report on Thursday, September 20th. Piper Jaffray Companies set a $29.00 target price on Range Resources and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Guggenheim reissued a “buy” rating and issued a $22.00 target price on shares of Range Resources in a research report on Wednesday, October 24th. Royal Bank of Canada raised Range Resources to a “hold” rating in a research report on Wednesday, September 26th. Finally, Morgan Stanley decreased their target price on Range Resources from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.60.

RRC opened at $13.89 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $3.63 billion, a PE ratio of 23.95, a P/E/G ratio of 1.14 and a beta of 0.55. Range Resources has a 1 year low of $11.93 and a 1 year high of $18.59.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $811.20 million during the quarter, compared to analyst estimates of $747.06 million. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. Range Resources’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. Sell-side analysts forecast that Range Resources will post 1.02 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd grew its stake in shares of Range Resources by 7.4% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 6,264,301 shares of the oil and gas exploration company’s stock valued at $106,430,000 after purchasing an additional 433,986 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Range Resources by 1,488.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 14,407 shares of the oil and gas exploration company’s stock valued at $848,000 after purchasing an additional 13,500 shares during the period. Paradigm Asset Management Co. LLC bought a new stake in shares of Range Resources during the 3rd quarter valued at about $1,067,000. Kentucky Retirement Systems bought a new stake in shares of Range Resources during the 3rd quarter valued at about $1,138,000. Finally, Glenmede Trust Co. NA grew its stake in shares of Range Resources by 3,486.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 136,287 shares of the oil and gas exploration company’s stock valued at $2,315,000 after purchasing an additional 132,487 shares during the period.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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