Range Resources (NYSE:RRC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Range Resources (NYSE:RRC) had its price objective raised by stock analysts at Piper Sandler from $37.00 to $41.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price objective would suggest a potential downside of 1.37% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $39.00 price target (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Mizuho boosted their price objective on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Citigroup reduced their price objective on shares of Range Resources from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Finally, Morgan Stanley decreased their target price on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.06.

Range Resources Stock Performance

Range Resources stock opened at $41.57 on Thursday. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.38 and a beta of 0.57. The stock has a fifty day moving average of $36.77 and a two-hundred day moving average of $36.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.13. The business had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. On average, analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC boosted its position in shares of Range Resources by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 427,713 shares of the oil and gas exploration company’s stock worth $14,966,000 after acquiring an additional 79,533 shares during the last quarter. Fearnley Asset Management AS acquired a new position in Range Resources during the fourth quarter worth approximately $17,927,000. Virtu Financial LLC purchased a new position in Range Resources during the fourth quarter worth approximately $319,000. Invesco Ltd. raised its stake in Range Resources by 1.7% during the fourth quarter. Invesco Ltd. now owns 4,255,287 shares of the oil and gas exploration company’s stock worth $150,041,000 after purchasing an additional 71,351 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Range Resources by 34.9% in the 4th quarter. Corient Private Wealth LLC now owns 9,870 shares of the oil and gas exploration company’s stock valued at $348,000 after purchasing an additional 2,552 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.