Range Resources (NYSE:RRC) PT Raised to $42.00 at Stephens

Range Resources (NYSE:RRC) had its price target increased by analysts at Stephens from $41.00 to $42.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price objective would indicate a potential upside of 11.44% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Truist Financial reduced their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Barclays assumed coverage on shares of Range Resources in a report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price target on the stock. Mizuho restated a “buy” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Benchmark cut shares of Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Piper Sandler upped their price target on shares of Range Resources from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.40.

Range Resources Trading Down 0.2 %

NYSE:RRC opened at $37.69 on Wednesday. The business’s 50-day moving average is $33.67 and its two-hundred day moving average is $32.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. Range Resources has a 12 month low of $23.92 and a 12 month high of $38.25. The firm has a market capitalization of $9.13 billion, a PE ratio of 19.13 and a beta of 1.83.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. Research analysts predict that Range Resources will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources in the 3rd quarter valued at about $27,000. Schroder Investment Management Group grew its position in shares of Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after purchasing an additional 87,624 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Range Resources during the 3rd quarter worth approximately $19,704,000. Finally, Cambria Investment Management L.P. grew its position in shares of Range Resources by 8.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after purchasing an additional 20,685 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.