Range Resources (NYSE:RRC) Price Target Raised to $35.00 at Truist Financial

Range Resources (NYSE:RRCGet Free Report) had its price objective upped by Truist Financial from $31.00 to $35.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas exploration company’s stock. Truist Financial’s price objective would suggest a potential downside of 11.64% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays upgraded shares of Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $35.00 to $34.00 in a report on Wednesday, October 2nd. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and increased their target price for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Morgan Stanley reduced their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Finally, Stephens raised their price objective on Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Range Resources presently has an average rating of “Hold” and an average target price of $37.16.

Read Our Latest Analysis on Range Resources

Range Resources Stock Up 2.9 %

Shares of NYSE:RRC opened at $39.61 on Monday. The business’s 50 day moving average is $34.96 and its 200 day moving average is $32.38. The stock has a market cap of $9.56 billion, a P/E ratio of 20.01 and a beta of 1.81. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.76. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRCGet Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same quarter last year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts predict that Range Resources will post 1.91 EPS for the current year.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Canoe Financial LP boosted its holdings in Range Resources by 114.9% in the third quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after purchasing an additional 1,422,200 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Range Resources by 61.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after buying an additional 604,199 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in shares of Range Resources in the third quarter worth about $11,508,000. Verition Fund Management LLC boosted its stake in shares of Range Resources by 379.3% in the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after buying an additional 324,011 shares during the last quarter. Finally, Sagefield Capital LP grew its holdings in Range Resources by 44.8% during the second quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock worth $30,408,000 after acquiring an additional 280,452 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

(Get Free Report)

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.

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