Brokerages Set Range Resources Corp. (RRC) PT at $22.63

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Range Resources Corp. (NYSE:RRC) has been assigned a consensus rating of “Hold” from the twenty-eight brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.63.

Several analysts have issued reports on the stock. Morgan Stanley set a $17.00 price target on shares of Range Resources and gave the stock a “sell” rating in a research report on Monday, October 29th. Guggenheim restated a “buy” rating and issued a $22.00 price target on shares of Range Resources in a research report on Wednesday, October 24th. TD Securities raised their price target on shares of Range Resources from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $29.00 price target on shares of Range Resources and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, B. Riley raised their price target on shares of Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, October 18th.

Several institutional investors have recently modified their holdings of RRC. Commonwealth Equity Services LLC boosted its position in shares of Range Resources by 58.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,911 shares of the oil and gas exploration company’s stock valued at $260,000 after acquiring an additional 6,588 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position 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 acquiring an additional 3,446 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Range Resources by 12.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,115,338 shares of the oil and gas exploration company’s stock valued at $16,217,000 after acquiring an additional 127,571 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Range Resources by 6.6% during the 2nd quarter. Fisher Asset Management LLC now owns 2,711,002 shares of the oil and gas exploration company’s stock valued at $45,355,000 after acquiring an additional 167,814 shares in the last quarter. Finally, Radnor Capital Management LLC acquired a new stake in shares of Range Resources during the 2nd quarter valued at about $306,000.

Shares of NYSE:RRC opened at $17.39 on Friday. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.16 and a beta of 0.58. Range Resources has a 12-month low of $11.93 and a 12-month high of $19.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.56 and a quick ratio of 0.53.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $811.20 million for the quarter, compared to the consensus estimate of $747.06 million. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. Range Resources’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. Equities analysts forecast that Range Resources will post 1.04 EPS for the current fiscal year.

About Range Resources

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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