Range Resources (NYSE:RRC) Price Target Cut to $30.00 by Analysts at Truist Financial

Range Resources (NYSE:RRC - Get Free Report) had its target price dropped by research analysts at Truist Financial from $32.00 to $30.00 in a report issued on Friday, Benzinga reports. The firm presently has a "hold" rating on the oil and gas exploration company's stock. Truist Financial's target price points to a potential downside of 14.36% from the stock's previous close.

RRC has been the subject of a number of other reports. Scotiabank reduced their price objective on shares of Range Resources from $43.00 to $40.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 16th. StockNews.com raised Range Resources to a "sell" rating in a report on Wednesday, March 13th. Mizuho reissued a "buy" rating and set a $39.00 target price (up previously from $37.00) on shares of Range Resources in a report on Wednesday, March 13th. Raymond James dropped their target price on Range Resources from $37.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, January 24th. Finally, Stifel Nicolaus dropped their target price on Range Resources from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.00.

Range Resources Stock Performance

RRC stock traded down $0.11 during midday trading on Friday, reaching $35.03. 2,752,139 shares of the company were exchanged, compared to its average volume of 2,628,808. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50-day moving average price of $31.67 and a two-hundred day moving average price of $31.94. Range Resources has a one year low of $23.92 and a one year high of $37.88. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 9.90 and a beta of 1.83.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The firm had revenue of $941.40 million during the quarter, compared to analysts' expectations of $672.25 million. During the same period in the previous year, the business posted $1.26 earnings per share. The company's revenue for the quarter was down 42.3% compared to the same quarter last year. Equities research analysts forecast that Range Resources will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliance Wealth Advisors LLC UT grew its position in Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company's stock valued at $317,000 after acquiring an additional 431 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company's stock worth $43,000 after purchasing an additional 490 shares during the last quarter. Lmcg Investments LLC grew its holdings in shares of Range Resources by 0.4% during the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company's stock worth $4,695,000 after purchasing an additional 546 shares during the last quarter. Xponance Inc. grew its holdings in shares of Range Resources by 2.0% during the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company's stock worth $888,000 after purchasing an additional 579 shares during the last quarter. Finally, Octavia Wealth Advisors LLC grew its holdings in shares of Range Resources by 9.4% during the fourth quarter. Octavia Wealth Advisors LLC now owns 6,857 shares of the oil and gas exploration company's stock worth $209,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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.