Range Resources (NYSE:RRC) Raised to Buy at Roth Mkm

Range Resources (NYSE:RRC) was upgraded by investment analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $42.00 target price on the oil and gas exploration company’s stock, up from their previous target price of $41.00. Roth Mkm’s price target would indicate a potential upside of 21.39% from the stock’s current price.

RRC has been the topic of a number of other research reports. Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Williams Trading set a $40.00 target price on shares of Range Resources in a research note on Wednesday, March 5th. Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, March 17th. Morgan Stanley raised Range Resources from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $49.00 in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upgraded shares of Range Resources from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $43.00 to $45.00 in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.71.

Range Resources Stock Performance

RRC opened at $34.60 on Tuesday. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 5.11 and a beta of 1.73. The business’s 50-day moving average price is $37.89 and its two-hundred day moving average price is $35.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the company earned $0.63 earnings per share. Equities analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the last quarter. Headlands Technologies LLC bought a new position in Range Resources during the fourth quarter valued at about $42,000. Geneos Wealth Management Inc. bought a new position in Range Resources during the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc increased its holdings in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 463 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.