Range Resources Corporation (RRC) Given a $30.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $30.00 price target on Range Resources Corporation (NYSE:RRC) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently weighed in on RRC. KeyCorp restated a hold rating on shares of Range Resources Corporation in a report on Monday. Jefferies Group LLC restated a buy rating and issued a $25.00 price target on shares of Range Resources Corporation in a report on Tuesday, October 10th. Cowen and Company restated a buy rating and issued a $35.00 price target on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Stifel Nicolaus restated a buy rating and issued a $20.00 price target on shares of Range Resources Corporation in a report on Thursday, September 14th. Finally, Barclays PLC lowered their price target on Range Resources Corporation from $20.00 to $18.00 and set an underweight rating on the stock in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Range Resources Corporation currently has a consensus rating of Buy and a consensus price target of $31.89.

Range Resources Corporation (NYSE:RRC) traded down $1.23 during midday trading on Tuesday, reaching $17.35. The company’s stock had a trading volume of 8,683,200 shares, compared to its average volume of 5,894,950. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.50 and a quick ratio of 0.47. Range Resources Corporation has a 52 week low of $15.99 and a 52 week high of $39.64. The firm has a market cap of $4,310.00, a PE ratio of 51.61 and a beta of 0.91.

Range Resources Corporation (NYSE:RRC) last released its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Range Resources Corporation had a positive return on equity of 1.63% and a negative net margin of 2.23%. The company had revenue of $482.20 million for the quarter, compared to analysts’ expectations of $543.16 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. research analysts predict that Range Resources Corporation will post 0.47 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Range Resources Corporation by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after buying an additional 976,293 shares during the period. Sanders Capital LLC raised its position in shares of Range Resources Corporation by 4.5% in the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock worth $332,679,000 after buying an additional 673,214 shares during the period. BlackRock Inc. raised its position in shares of Range Resources Corporation by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock worth $324,936,000 after buying an additional 890,348 shares during the period. State Street Corp raised its position in shares of Range Resources Corporation by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock worth $321,059,000 after buying an additional 1,805,404 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Range Resources Corporation by 14.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock worth $96,898,000 after buying an additional 612,032 shares during the period. 95.81% of the stock is currently owned by institutional investors and hedge funds.

About Range Resources Corporation

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 Corporation (NYSE:RRC)

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