Range Resources (NYSE:RRC) PT Raised to $43.00

Range Resources (NYSE:RRC - Get Free Report) had its price objective lifted by stock analysts at Piper Sandler from $41.00 to $43.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas exploration company's stock. Piper Sandler's price target would suggest a potential upside of 19.74% from the stock's current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price target on shares of Range Resources from $23.00 to $33.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 17th. Stephens increased their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. Citigroup increased their price objective on shares of Range Resources from $33.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, April 3rd. Truist Financial dropped their price objective on shares of Range Resources from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, April 5th. Finally, Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.75.

Range Resources Stock Down 3.9 %

NYSE RRC traded down $1.46 during trading hours on Tuesday, reaching $35.91. 2,298,494 shares of the company traded hands, compared to its average volume of 2,586,256. Range Resources has a 12 month low of $23.92 and a 12 month high of $38.25. 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 stock has a market capitalization of $8.71 billion, a PE ratio of 18.23 and a beta of 1.83. The company has a 50 day moving average of $33.94 and a two-hundred day moving average of $32.42.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly 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. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same period last year, the firm posted $0.96 EPS. The company's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, equities analysts expect that Range Resources will post 2 earnings per share for the current year.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now directly owns 22,370 shares of the company's stock, valued at $844,467.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new position in Range Resources during the third quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. grew its position in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company's stock worth $26,000 after acquiring an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources in the third quarter worth approximately $27,000. Larson Financial Group LLC grew its position in Range Resources by 267.9% in the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company's stock worth $40,000 after acquiring an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company's stock worth $43,000 after acquiring an additional 490 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other 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.