Range Resources (NYSE:RRC) Stock Rating Lowered by Piper Sandler
Piper Sandler cut shares of Range Resources (NYSE:RRC) from an overweight rating to a neutral rating in a report published on Monday morning, BenzingaRatingsTable reports. They currently have $4.50 price objective on the oil and gas exploration company’s stock, down from their prior price objective of $6.50.
RRC has been the subject of a number of other reports. Citigroup downgraded Range Resources from a positive rating to a neutral rating and decreased their target price for the company from $6.00 to $5.00 in a research note on Monday, January 13th. They noted that the move was a valuation call. Bank of America cut their price target on Range Resources from $8.00 to $4.00 and set an underperform rating on the stock in a report on Thursday, October 24th. Scotiabank lowered Range Resources from an outperform rating to a sector perform rating and set a $5.00 price objective for the company. in a research report on Friday, December 6th. Cfra reduced their price objective on Range Resources from $5.00 to $3.00 and set a hold rating for the company in a research report on Wednesday, February 5th. Finally, TD Securities downgraded Range Resources from a hold rating to a reduce rating and set a $3.75 price objective for the company. in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $8.27.
Shares of NYSE:RRC opened at $3.10 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.75. The firm has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $4.08. Range Resources has a fifty-two week low of $2.85 and a fifty-two week high of $11.65. The company has a market cap of $764.34 million, a PE ratio of -0.46 and a beta of 1.09.
About Range Resources
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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