Range Resources Corp. Upgraded to Buy at Goldman Sachs (RRC)
Range Resources Corp. (NYSE:RRC) was upgraded by equities research analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $110.00 price target on the stock, up from their previous price target of $104.00. Goldman Sachs’ target price suggests a potential upside of 23.48% from the stock’s previous close.
A number of other analysts have also recently weighed in on RRC. Analysts at Brean Capital initiated coverage on shares of Range Resources Corp. in a research note on Tuesday, May 6th. They set a “buy” rating and a $113.00 price target on the stock. Separately, analysts at Macquarie raised their price target on shares of Range Resources Corp. from $115.00 to $120.00 in a research note on Friday, May 2nd. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Range Resources Corp. in a research note on Thursday, May 1st. They now have a $106.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.95.
Shares of Range Resources Corp. (NYSE:RRC) traded up 0.46% on Thursday, hitting $89.49. The stock had a trading volume of 2,039,986 shares. Range Resources Corp. has a 52 week low of $72.54 and a 52 week high of $95.41. The stock has a 50-day moving average of $88.85 and a 200-day moving average of $83.86. The company has a market cap of $14.361 billion and a P/E ratio of 65.26.
Range Resources Corp. (NYSE:RRC) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.26. The company had revenue of $457.34 million for the quarter, compared to the consensus estimate of $486.70 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 43.3% on a year-over-year basis. On average, analysts predict that Range Resources Corp. will post $2.01 earnings per share for the current fiscal year.
In other Range Resources Corp. news, VP Chad Stephens sold 12,806 shares of Range Resources Corp. stock on the open market in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.39, for a total value of $1,157,534.34. Following the sale, the vice president now directly owns 108,421 shares in the company, valued at approximately $9,800,174. The sale was disclosed in a filing with the SEC, which is available at this link.
Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids and oil company, engaged in the exploration, development and acquisition of natural gas and oil properties, mostly in the Appalachian and Southwestern regions of the United States.
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