Range Resources (RRC) Given a $17.00 Price Target by Morgan Stanley Analysts

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Morgan Stanley set a $17.00 price objective on Range Resources (NYSE:RRC) in a research report sent to investors on Monday. The firm currently has a sell rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other research reports. Royal Bank of Canada set a $21.00 price target on Range Resources and gave the company a buy rating in a research report on Thursday, September 20th. TD Securities started coverage on Range Resources in a research report on Thursday, July 5th. They set a hold rating and a $18.00 price target for the company. Piper Jaffray Companies set a $29.00 price target on Range Resources and gave the company a buy rating in a research report on Tuesday, October 23rd. Capital One Financial upgraded Range Resources from an equal weight rating to an overweight rating in a research report on Tuesday, July 31st. Finally, B. Riley upgraded Range Resources from a neutral rating to a buy rating and lifted their price target for the company from $17.00 to $22.00 in a research report on Thursday, September 20th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Range Resources currently has a consensus rating of Hold and a consensus target price of $22.55.

NYSE RRC traded up $0.32 during trading hours on Monday, hitting $15.60. The company had a trading volume of 1,847,492 shares, compared to its average volume of 6,946,747. Range Resources has a 52 week low of $11.93 and a 52 week high of $19.38. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 0.72. The company has a market cap of $3.95 billion, a P/E ratio of 26.89, a P/E/G ratio of 1.13 and a beta of 0.57.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The business had revenue of $811.20 million during the quarter, compared to the consensus estimate of $747.06 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue was up 68.2% compared to the same quarter last year. Equities research analysts anticipate that Range Resources will post 1.03 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB raised its holdings in shares of Range Resources by 14.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 27,127 shares of the oil and gas exploration company’s stock valued at $394,000 after buying an additional 3,446 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Range Resources by 47.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,730 shares of the oil and gas exploration company’s stock worth $199,000 after purchasing an additional 3,750 shares during the period. Aviva PLC increased its stake in Range Resources by 3.3% in the 2nd quarter. Aviva PLC now owns 118,038 shares of the oil and gas exploration company’s stock worth $1,975,000 after purchasing an additional 3,768 shares during the period. Usca Ria LLC increased its stake in Range Resources by 20.3% in the 2nd quarter. Usca Ria LLC now owns 24,007 shares of the oil and gas exploration company’s stock worth $402,000 after purchasing an additional 4,055 shares during the period. Finally, Brave Asset Management Inc. increased its stake in Range Resources by 20.4% in the 2nd quarter. Brave Asset Management Inc. now owns 24,560 shares of the oil and gas exploration company’s stock worth $411,000 after purchasing an additional 4,160 shares during the period.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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