Range Resources (NYSE:RRC) Price Target Raised to $41.00

Range Resources (NYSE:RRC - Get Free Report) had its target price upped by Piper Sandler from $40.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas exploration company's stock. Piper Sandler's price target indicates a potential upside of 15.29% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley set a $41.00 price objective on shares of Range Resources in a research note on Tuesday, April 15th. Raymond James Financial increased their price objective on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Wall Street Zen cut shares of Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Stephens reiterated an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a research note on Wednesday, April 23rd. Finally, Mizuho increased their price objective on shares of Range Resources from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Range Resources currently has a consensus rating of "Hold" and a consensus price target of $43.11.

Range Resources Stock Up 0.5%

Shares of NYSE:RRC traded up $0.16 during midday trading on Thursday, reaching $35.56. The company's stock had a trading volume of 1,954,664 shares, compared to its average volume of 2,943,232. The firm has a 50 day moving average of $39.16 and a 200-day moving average of $38.04. The firm has a market capitalization of $8.47 billion, a P/E ratio of 17.87, a PEG ratio of 0.29 and a beta of 0.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources has a 12-month low of $27.29 and a 12-month high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the prior year, the business earned $0.46 EPS. On average, research analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 4,200 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the transaction, the director directly owned 13,663 shares of the company's stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis Degner sold 35,850 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.42, for a total value of $1,449,057.00. Following the completion of the transaction, the chief executive officer directly owned 58,431 shares of the company's stock, valued at $2,361,781.02. This trade represents a 38.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,080 shares of company stock valued at $2,984,479. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of Range Resources during the 1st quarter valued at about $33,000. Bessemer Group Inc. raised its position in shares of Range Resources by 48.0% in the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Range Resources in the 1st quarter valued at approximately $39,000. Barrett & Company Inc. bought a new position in Range Resources during the 2nd quarter worth $41,000. Finally, Headlands Technologies LLC bought a new position in Range Resources during the 4th quarter worth $42,000. Institutional investors and hedge funds 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.