Range Resources (NYSE:RRC) PT Raised to $33.00 at Morgan Stanley

Range Resources (NYSE:RRC) had its price objective raised by Morgan Stanley from $23.00 to $33.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the oil and gas exploration company’s stock. Morgan Stanley’s target price points to a potential downside of 5.71% from the company’s previous close.

Several other research analysts have also recently commented on RRC. StockNews.com upgraded shares of Range Resources to a “sell” rating in a report on Wednesday, March 13th. Benchmark cut shares of Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Range Resources in a report on Tuesday, April 9th. Susquehanna restated a “neutral” rating and issued a $34.00 target price (down previously from $43.00) on shares of Range Resources in a report on Friday, January 26th. Finally, Mizuho restated a “buy” rating and issued a $39.00 target price on shares of Range Resources in a report on Thursday, April 11th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.75.

Range Resources Stock Up 0.1 %

Shares of RRC stock traded up $0.05 during trading on Wednesday, reaching $35.00. The company’s stock had a trading volume of 758,823 shares, compared to its average volume of 2,536,922. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 9.92 and a beta of 1.83. The stock’s 50-day moving average price is $32.63 and its 200 day moving average price is $32.18. Range Resources has a 1-year low of $23.92 and a 1-year high of $37.88.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company had revenue of $941.40 million during the quarter, compared to analysts’ expectations of $672.25 million. During the same quarter in the previous year, the business posted $1.26 EPS. The firm’s revenue was down 42.3% on a year-over-year basis. On average, research analysts anticipate that Range Resources will post 1.92 EPS for the current year.

Hedge Funds Weigh In On Range Resources

Large investors have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC purchased a new position in Range Resources during the 3rd quarter worth $27,000. Schroder Investment Management Group grew its stake in shares of Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after purchasing an additional 87,624 shares during the period. Kennedy Capital Management LLC grew its stake in shares of Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Range Resources in the 3rd quarter valued at about $19,704,000. Finally, Cambria Investment Management L.P. grew its stake in Range Resources by 8.5% in the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after acquiring an additional 20,685 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.