Range Resources Corporation (NYSE:RRC) was upgraded by stock analysts at Barclays PLC from an “underweight” rating to an “overweight” rating in a research note issued on Wednesday. The brokerage presently has a $24.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $18.00. Barclays PLC’s target price would indicate a potential upside of 21.21% from the company’s current price.

Several other brokerages have also commented on RRC. BMO Capital Markets set a $30.00 price target on shares of Range Resources Corporation and gave the stock a “buy” rating in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 price target on shares of Range Resources Corporation in a report on Tuesday. BidaskClub raised shares of Range Resources Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Cowen and Company reissued a “buy” rating and issued a $35.00 price target on shares of Range Resources Corporation in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Range Resources Corporation in a report on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.89.

Range Resources Corporation (NYSE:RRC) last posted its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.20. The firm had revenue of $565.00 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The business’s quarterly revenue was up 55.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.35) EPS.

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In other news, Director Mary Ralph Lowe purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $179,900.00. Following the completion of the transaction, the director now directly owns 25,413 shares in the company, valued at approximately $457,179.87. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steffen E. Palko purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $16.81 per share, with a total value of $252,150.00. Following the transaction, the director now owns 27,267 shares of the company’s stock, valued at $458,358.27. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 26,000 shares of company stock valued at $449,800. Company insiders own 2.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in RRC. UBS Asset Management Americas Inc. increased its position in shares of Range Resources Corporation by 11.7% in the first quarter. UBS Asset Management Americas Inc. now owns 482,393 shares of the oil and gas exploration company’s stock valued at $14,038,000 after buying an additional 50,440 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Range Resources Corporation by 886.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,001 shares of the oil and gas exploration company’s stock valued at $145,000 after buying an additional 4,494 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Range Resources Corporation by 1.2% in the first quarter. Mason Street Advisors LLC now owns 25,995 shares of the oil and gas exploration company’s stock valued at $756,000 after buying an additional 301 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Range Resources Corporation by 47.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,445 shares of the oil and gas exploration company’s stock valued at $188,000 after buying an additional 2,071 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Range Resources Corporation by 3.0% in the first quarter. Prudential Financial Inc. now owns 253,351 shares of the oil and gas exploration company’s stock valued at $7,373,000 after buying an additional 7,300 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

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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