Brokerages Set Range Resources Corp. (RRC) Price Target at $21.94

Range Resources Corp. (NYSE:RRC) has been assigned a consensus rating of “Hold” from the twenty-six research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $21.94.

Several research firms recently issued reports on RRC. Zacks Investment Research lowered shares of Range Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Morgan Stanley set a $17.00 price objective on shares of Range Resources and gave the company a “sell” rating in a research note on Monday, October 29th. Guggenheim reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Range Resources in a research note on Wednesday, October 24th. TD Securities lifted their price objective on shares of Range Resources from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the company a “buy” rating in a research note on Tuesday, October 23rd.

RRC stock opened at $14.55 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53. Range Resources has a 1 year low of $11.93 and a 1 year high of $18.93. The firm has a market capitalization of $3.63 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.14 and a beta of 0.58.

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

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Range Resources by 26.4% during the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock worth $330,575,000 after acquiring an additional 4,132,913 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Range Resources by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,193,291 shares of the oil and gas exploration company’s stock worth $156,194,000 after acquiring an additional 195,811 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its position in 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 worth $106,430,000 after acquiring an additional 433,986 shares during the last quarter. Fisher Asset Management LLC lifted its position in Range Resources by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock worth $47,655,000 after acquiring an additional 93,872 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Range Resources by 34.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock worth $42,184,000 after acquiring an additional 640,077 shares during the last quarter.

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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