Range Resources (NYSE:RRC) PT Raised to $37.00 at Stephens

Range Resources (NYSE:RRC) had its target price hoisted by analysts at Stephens from $36.00 to $37.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ price target would indicate a potential upside of 17.68% from the company’s previous close.

Several other brokerages have also recently issued reports on RRC. Mizuho decreased their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Susquehanna decreased their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. The Goldman Sachs Group decreased their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Finally, Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $35.12.

Range Resources Price Performance

RRC stock opened at $31.44 on Wednesday. The company has a 50 day simple moving average of $30.23 and a 200 day simple moving average of $33.06. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 15.96 and a beta of 1.80. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. Research analysts anticipate that Range Resources will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RRC. Blue Trust Inc. raised its holdings in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Range Resources during the third quarter worth about $49,000. Fifth Third Bancorp increased its holdings in Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in Range Resources during the second quarter worth about $67,000. Finally, International Assets Investment Management LLC purchased a new stake in Range Resources during the second quarter worth about $67,000. 98.93% of the stock is owned by institutional investors.

About Range Resources

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.