Piper Sandler Boosts Range Resources (NYSE:RRC) Price Target to $41.00

Range Resources (NYSE:RRC) had its price objective hoisted by Piper Sandler from $40.00 to $41.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price suggests a potential upside of 16.44% from the stock’s current price.

RRC has been the subject of a number of other research reports. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Benchmark lowered Range Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday. Truist Financial cut their target price on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Finally, Raymond James cut their target price on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.80.

Range Resources Stock Up 1.2 %

Shares of NYSE:RRC traded up $0.43 during mid-day trading on Friday, hitting $35.21. 832,227 shares of the company traded hands, compared to its average volume of 2,513,575. Range Resources has a 52-week low of $23.92 and a 52-week high of $37.88. The firm’s 50 day simple moving average is $32.89 and its 200 day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $8.53 billion, a P/E ratio of 9.95 and a beta of 1.83.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. The firm had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. Range Resources’s quarterly revenue was down 42.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. On average, equities analysts anticipate that Range Resources will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raleigh Capital Management Inc. bought a new stake in shares of Range Resources during the 3rd quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources in the 3rd quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. grew its position in Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Range Resources during the 2nd quarter worth approximately $28,000. Finally, Proffitt & Goodson Inc. bought a new stake in Range Resources during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

About Range Resources

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.