Cowen Analysts Give Range Resources (RRC) a $25.00 Price Target

Range Resources (NYSE:RRC) received a $25.00 target price from equities researchers at Cowen in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Cowen’s price target would suggest a potential upside of 51.79% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Barclays restated a “buy” rating and set a $19.00 price target on shares of Range Resources in a research report on Sunday, December 24th. Zacks Investment Research upgraded Range Resources from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, October 20th. Credit Suisse Group started coverage on Range Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $24.00 price target on the stock. Morgan Stanley reduced their price target on Range Resources from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th. Finally, Scotiabank set a $27.00 price target on Range Resources and gave the stock a “buy” rating in a research report on Saturday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Range Resources has a consensus rating of “Buy” and a consensus target price of $29.61.

Shares of Range Resources (RRC) traded down $0.31 during midday trading on Thursday, hitting $16.47. The company had a trading volume of 5,960,600 shares, compared to its average volume of 8,023,442. The stock has a market cap of $3,970.00, a PE ratio of -78.43, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72. Range Resources has a 52 week low of $15.33 and a 52 week high of $36.40.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. The business had revenue of $482.20 million for the quarter, compared to analyst estimates of $543.16 million. During the same period last year, the company earned ($0.06) EPS. Range Resources’s revenue for the quarter was up 16.7% compared to the same quarter last year. sell-side analysts anticipate that Range Resources will post 0.44 earnings per share for the current fiscal year.

In other Range Resources news, Director Anthony V. Dub sold 2,897 shares of Range Resources stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $16.06, for a total transaction of $46,525.82. Following the completion of the transaction, the director now owns 96,000 shares in the company, valued at $1,541,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Roger S. Manny sold 10,757 shares of Range Resources stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $16.42, for a total value of $176,629.94. Following the transaction, the chief financial officer now owns 143,703 shares of the company’s stock, valued at approximately $2,359,603.26. The disclosure for this sale can be found here. Insiders have sold 44,574 shares of company stock worth $729,007 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its stake in Range Resources by 1.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,065 shares of the oil and gas exploration company’s stock valued at $117,000 after buying an additional 64 shares during the last quarter. M&T Bank Corp raised its stake in Range Resources by 1.3% during the second quarter. M&T Bank Corp now owns 27,472 shares of the oil and gas exploration company’s stock valued at $639,000 after buying an additional 360 shares during the last quarter. Stephens Inc. AR raised its stake in Range Resources by 5.6% during the second quarter. Stephens Inc. AR now owns 7,728 shares of the oil and gas exploration company’s stock valued at $179,000 after buying an additional 412 shares during the last quarter. Castleark Management LLC raised its stake in Range Resources by 0.8% during the second quarter. Castleark Management LLC now owns 101,020 shares of the oil and gas exploration company’s stock valued at $2,341,000 after buying an additional 780 shares during the last quarter. Finally, Norinchukin Bank The raised its stake in Range Resources by 6.8% during the second quarter. Norinchukin Bank The now owns 13,058 shares of the oil and gas exploration company’s stock valued at $303,000 after buying an additional 834 shares during the last quarter.

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Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

Analyst Recommendations for Range Resources (NYSE:RRC)

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