Range Resources (NYSE:RRC) received a $18.00 target price from research analysts at Guggenheim in a research note issued on Wednesday, TipRanks reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Guggenheim’s target price would suggest a potential upside of 70.62% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Capital One Financial downgraded shares of Range Resources from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. SunTrust Banks reduced their price target on shares of Range Resources to $12.00 and set a “hold” rating on the stock in a report on Tuesday, January 8th. B. Riley set a $21.00 price target on shares of Range Resources and gave the company a “buy” rating in a report on Sunday, December 30th. Bank of America downgraded shares of Range Resources from a “neutral” rating to an “underperform” rating in a report on Friday, January 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $19.00 price target on shares of Range Resources in a report on Wednesday, January 30th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $18.04.

Shares of NYSE RRC opened at $10.55 on Wednesday. Range Resources has a 12-month low of $9.22 and a 12-month high of $18.59. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 0.95.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, February 25th. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. Range Resources had a negative net margin of 53.20% and a positive return on equity of 5.20%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $736.35 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was up 58.0% compared to the same quarter last year. On average, equities analysts predict that Range Resources will post 0.54 EPS for the current fiscal year.

In related news, Director Steven D. Gray purchased 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $10.95 per share, with a total value of $219,000.00. Following the completion of the purchase, the director now directly owns 7,804 shares in the company, valued at approximately $85,453.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Funk purchased 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $9.80 per share, for a total transaction of $98,000.00. Following the purchase, the director now owns 22,706 shares of the company’s stock, valued at $222,518.80. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

A number of large investors have recently bought and sold shares of RRC. Investec Asset Management LTD purchased a new position in Range Resources during the fourth quarter worth approximately $90,825,000. FMR LLC raised its stake in Range Resources by 9,258.5% during the fourth quarter. FMR LLC now owns 7,341,074 shares of the oil and gas exploration company’s stock worth $70,254,000 after purchasing an additional 7,262,631 shares during the period. Kopernik Global Investors LLC raised its stake in Range Resources by 51.6% during the fourth quarter. Kopernik Global Investors LLC now owns 6,929,952 shares of the oil and gas exploration company’s stock worth $66,320,000 after purchasing an additional 2,359,051 shares during the period. Norges Bank purchased a new position in Range Resources during the fourth quarter worth approximately $19,595,000. Finally, Mackenzie Financial Corp raised its stake in Range Resources by 52.8% during the fourth quarter. Mackenzie Financial Corp now owns 5,355,090 shares of the oil and gas exploration company’s stock worth $51,248,000 after purchasing an additional 1,850,126 shares during the period.

Range Resources Company Profile

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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