Range Resources (NYSE:RRC) Price Target Cut to $36.00

Range Resources (NYSE:RRC) had its price target lowered by equities researchers at Susquehanna from $38.00 to $36.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Susquehanna’s target price would indicate a potential upside of 8.79% from the stock’s current price.

A number of other research firms also recently weighed in on RRC. Jefferies Financial Group raised their price target on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wolfe Research began coverage on Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial cut their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Piper Sandler raised their price objective on Range Resources from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $37.15.

Range Resources Trading Down 1.6 %

Shares of NYSE RRC opened at $33.09 on Monday. Range Resources has a one year low of $27.60 and a one year high of $39.33. The firm has a market capitalization of $8.03 billion, a PE ratio of 16.80 and a beta of 1.87. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $35.20 and a two-hundred day moving average price of $33.59.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period last year, the business earned $0.96 EPS. The business’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, analysts predict that Range Resources will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Charles G. Griffie purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $34.65 per share, with a total value of $51,975.00. Following the purchase, the director now directly owns 4,646 shares in the company, valued at $160,983.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,107 shares of company stock valued at $7,379,095. 1.57% of the stock is owned by corporate insiders.

Institutional Trading of Range Resources

Several institutional investors have recently bought and sold shares of RRC. Boston Partners boosted its stake in Range Resources by 1,858.7% in the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after buying an additional 6,070,900 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after buying an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. boosted its stake in Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after purchasing an additional 959,011 shares in the last quarter. Canoe Financial LP boosted its stake in Range Resources by 42.5% in the fourth quarter. Canoe Financial LP now owns 1,702,900 shares of the oil and gas exploration company’s stock worth $51,836,000 after purchasing an additional 507,500 shares in the last quarter. Finally, Herr Investment Group LLC boosted its stake in Range Resources by 4,594.4% in the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock worth $17,133,000 after purchasing an additional 487,011 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.