TD Cowen Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its target price lifted by analysts at TD Cowen from $40.00 to $45.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. TD Cowen’s price target would indicate a potential upside of 3.41% from the company’s current price.

Several other brokerages also recently commented on RRC. UBS Group upped their price objective on shares of Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Mizuho boosted their price target on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, December 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 price target (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Finally, Zacks Research lowered Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.44.

Range Resources Trading Up 0.4%

Shares of RRC stock opened at $43.52 on Tuesday. The business has a 50-day moving average of $37.97 and a 200 day moving average of $37.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources has a 1-year low of $30.32 and a 1-year high of $44.56. The stock has a market capitalization of $10.24 billion, a PE ratio of 15.88, a P/E/G ratio of 0.40 and a beta of 0.57.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The firm’s revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Range Resources during the 4th quarter valued at about $34,000. True Wealth Design LLC grew its holdings in Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. Allworth Financial LP increased its stake in shares of Range Resources by 196.5% during the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 731 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $57,000. 98.93% of the stock is currently owned by institutional investors.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.