Range Resources Corporation (RRC) Receives $46.26 Consensus Target Price from Brokerages

Range Resources Corporation (RRC) Receives $46.26 Consensus Target Price from Brokerages

Range Resources Corporation (NYSE:RRC) has received an average rating of “Buy” from the thirty-three ratings firms that are covering the company. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $46.21.

A number of research analysts have issued reports on RRC shares. Jefferies Group LLC set a $50.00 price objective on Range Resources Corporation and gave the company a “buy” rating in a research note on Tuesday, October 18th. Imperial Capital lowered their price objective on Range Resources Corporation from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Goldman Sachs Group, Inc. (The) upgraded Range Resources Corporation from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Monday, October 31st. BMO Capital Markets upgraded Range Resources Corporation from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Thursday, November 17th. Finally, Howard Weil upgraded Range Resources Corporation from a “sector perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, December 15th.

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Range Resources Corporation during the fourth quarter worth approximately $85,048,000. Blue Ridge Capital L.L.C. purchased a new stake in Range Resources Corporation during the second quarter worth approximately $106,556,000. TimesSquare Capital Management LLC increased its stake in Range Resources Corporation by 128.3% in the third quarter. TimesSquare Capital Management LLC now owns 2,310,428 shares of the oil and gas exploration company’s stock worth $89,529,000 after buying an additional 1,298,628 shares in the last quarter. GMT Capital Corp purchased a new stake in Range Resources Corporation during the third quarter worth approximately $48,538,000. Finally, Bessemer Group Inc. increased its stake in Range Resources Corporation by 62.0% in the fourth quarter. Bessemer Group Inc. now owns 3,271,802 shares of the oil and gas exploration company’s stock worth $112,418,000 after buying an additional 1,251,569 shares in the last quarter. Institutional investors own 86.82% of the company’s stock.

Range Resources Corporation (NYSE:RRC) opened at 33.15 on Friday. The stock’s 50 day moving average price is $33.82 and its 200 day moving average price is $36.78. Range Resources Corporation has a 1-year low of $21.69 and a 1-year high of $46.96. The company’s market cap is $8.08 billion.

About Range Resources Corporation

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company operates through the exploration and production of natural gas, NGLs and oil in the United States segment. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties, focused in the Appalachian region of the United States.

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