Range Resources (NYSE:RRC) Price Target Raised to $40.00 at Barclays

Range Resources (NYSE:RRC) had its target price boosted by research analysts at Barclays from $34.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays‘s price target would suggest a potential upside of 6.21% from the stock’s previous close.

RRC has been the subject of several other research reports. Piper Sandler increased their price target on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday. Scotiabank lowered shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research report on Friday, January 17th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Range Resources from a “sell” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $35.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.00.

Range Resources Stock Performance

Shares of NYSE RRC opened at $37.66 on Thursday. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a market cap of $9.09 billion, a PE ratio of 19.02 and a beta of 1.81. The stock has a 50 day simple moving average of $36.47 and a 200-day simple moving average of $32.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Institutional Trading of Range Resources

A number of hedge funds have recently modified their holdings of RRC. Geode Capital Management LLC increased its position in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after purchasing an additional 35,344 shares during the last quarter. Canoe Financial LP lifted its stake in Range Resources by 9.4% in the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after acquiring an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Range Resources by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after purchasing an additional 92,217 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in Range Resources by 0.9% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,197,000 shares of the oil and gas exploration company’s stock worth $36,820,000 after buying an additional 10,690 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.