Range Resources (NYSE:RRC) Given New $45.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on Range Resources to $45 from $46 and kept an equal weight rating, implying about 16% upside from the prior close.
• Range Resources recently beat Q2 estimates, reporting EPS of $0.79 versus $0.65 expected and revenue of $759.6 million versus $744.8 million expected, helped by record production and lower unit costs.
• Analyst sentiment remains mixed: the stock has an overall Hold rating with an average target of $43.12, while recent updates from peers ranged from higher targets and bullish ratings to more cautious neutral calls.

Range Resources (NYSE:RRC - Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $46.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas exploration company's stock. Wells Fargo & Company's price target would suggest a potential upside of 16.16% from the company's previous close.

Other analysts have also recently issued research reports about the company. Stephens raised their price objective on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citigroup reaffirmed a "neutral" rating on shares of Range Resources in a research report on Thursday. Bank of America increased their price target on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Susquehanna lowered their price target on Range Resources from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Morgan Stanley dropped their price target on Range Resources from $50.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $43.12.

Range Resources Trading Up 2.6%

NYSE RRC opened at $38.74 on Thursday. Range Resources has a 52 week low of $32.60 and a 52 week high of $48.31. The company has a 50 day moving average price of $38.35 and a 200 day moving average price of $39.40. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.13 billion, a PE ratio of 10.70 and a beta of 0.41.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.14. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.99%. Range Resources's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that Range Resources will post 3.46 EPS for the current fiscal year.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Price T Rowe Associates Inc. MD raised its stake in shares of Range Resources by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,660,494 shares of the oil and gas exploration company's stock worth $975,311,000 after purchasing an additional 326,748 shares during the last quarter. Vanguard Group Inc. boosted its position in Range Resources by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company's stock valued at $901,021,000 after buying an additional 701,751 shares during the last quarter. Boston Partners increased its holdings in Range Resources by 14.0% in the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company's stock worth $474,585,000 after buying an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP increased its holdings in Range Resources by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company's stock worth $415,354,000 after buying an additional 227,711 shares during the period. Finally, Kopernik Global Investors LLC raised its position in Range Resources by 18.5% during the 4th quarter. Kopernik Global Investors LLC now owns 5,238,903 shares of the oil and gas exploration company's stock worth $184,724,000 after buying an additional 818,295 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

More Range Resources News

Here are the key news stories impacting Range Resources this week:

• Positive Sentiment: Range Resources beat Q2 expectations, reporting EPS of $0.79 versus the $0.65 consensus and revenue of $759.6 million versus $744.8 million expected. Management also highlighted record production, stronger price realizations, and lower unit costs, all of which support the stock. RRC Q2 Earnings Beat Estimates on Higher Output & Price Realizations
• Positive Sentiment: The company said it is leaning on exports in its earnings call, which suggests it is trying to capture stronger demand and pricing opportunities in global gas markets. Range Resources Leans on Exports in Earnings Call
• Positive Sentiment: Range Resources completed its multi-year buyback program, a shareholder-friendly move that can help support per-share value. How Investors May Respond To Range Resources (RRC) Earnings Beat And Completed Multi-Year Buyback Program
• Neutral Sentiment: The company outlined 2026 gas guidance of $0.35-$0.40 per Mcf and said it is targeting 2.5 Bcfe/d by year-end, giving investors a read on production and pricing assumptions but not a clear immediate catalyst. Range Resources outlines $0.35-$0.40/Mcf 2026 gas guidance while targeting 2.5 Bcfe/d by year-end
• Neutral Sentiment: Susquehanna lowered its price target on Range Resources to $41 from $45 and kept a neutral rating. That still implies some upside, but it may temper enthusiasm around the earnings release. Susquehanna Lowers Range Resources NYSE: RRC Price Target to $41.00

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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