Royal Bank of Canada Increases Range Resources (NYSE:RRC) Price Target to $15.00

Range Resources (NYSE:RRC) had its price target raised by stock analysts at Royal Bank of Canada from $7.00 to $15.00 in a research note issued on Monday, The Fly reports. The firm presently has a “sector perform” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 45.63% from the stock’s current price.

RRC has been the topic of several other reports. Morgan Stanley increased their price target on shares of Range Resources from $7.00 to $8.50 and gave the stock an “equal weight” rating in a research report on Friday, January 15th. Siebert Williams Shank assumed coverage on shares of Range Resources in a research report on Monday, February 1st. They issued a “hold” rating and a $10.00 price target on the stock. Tudor Pickering upgraded shares of Range Resources from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, January 12th. Bank of America downgraded shares of Range Resources from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 6th. Finally, Zacks Investment Research downgraded shares of Range Resources from a “hold” rating to a “sell” rating and set a $7.00 price objective on the stock. in a research report on Tuesday, November 3rd. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.68.

Shares of NYSE:RRC opened at $10.30 on Monday. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -1.02, a price-to-earnings-growth ratio of 1.26 and a beta of 2.71. The company has a 50-day moving average price of $9.27 and a 200-day moving average price of $7.91. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.83. Range Resources has a 12 month low of $1.61 and a 12 month high of $11.60.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Range Resources by 1.7% in the 4th quarter. BlackRock Inc. now owns 37,165,801 shares of the oil and gas exploration company’s stock valued at $249,010,000 after purchasing an additional 620,320 shares in the last quarter. Exor Investments UK LLP raised its stake in shares of Range Resources by 12.6% during the 4th quarter. Exor Investments UK LLP now owns 8,014,920 shares of the oil and gas exploration company’s stock worth $53,700,000 after acquiring an additional 898,973 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Range Resources by 0.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 2,719,748 shares of the oil and gas exploration company’s stock worth $18,005,000 after acquiring an additional 19,400 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Range Resources by 14.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,847,760 shares of the oil and gas exploration company’s stock worth $12,232,000 after acquiring an additional 237,903 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Range Resources by 6.5% during the 4th quarter. Morgan Stanley now owns 1,611,309 shares of the oil and gas exploration company’s stock worth $10,795,000 after acquiring an additional 97,849 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company 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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