Range Resources (NYSE:RRC) Price Target Cut to $41.00 by Analysts at Susquehanna

Key Points

• Susquehanna cut its price target on Range Resources to $41 from $45 while keeping a neutral rating, implying about 10.5% upside from the prior close.
• Other analysts have also recently trimmed targets on RRC, and the stock now carries an overall Hold consensus with an average price target of $43.12.
• Range Resources was trading at $37.11 on Tuesday and recently reported strong quarterly results, including EPS of $1.52 versus expectations of $1.25 and revenue well above estimates.

Range Resources (NYSE:RRC - Get Free Report) had its price objective dropped by analysts at Susquehanna from $45.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas exploration company's stock. Susquehanna's target price points to a potential upside of 10.48% from the company's previous close.

A number of other brokerages have also weighed in on RRC. The Goldman Sachs Group dropped their price objective on Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Stephens reduced their target price on Range Resources from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Friday, July 10th. UBS Group decreased their target price on shares of Range Resources from $49.00 to $44.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $43.12.

Range Resources Stock Performance

NYSE:RRC traded up $0.44 during mid-day trading on Tuesday, reaching $37.11. The stock had a trading volume of 418,472 shares, compared to its average volume of 3,278,431. Range Resources has a twelve month low of $32.60 and a twelve month high of $48.31. The business has a 50 day simple moving average of $38.47 and a 200 day simple moving average of $39.36. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 9.81 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.27. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. On average, analysts expect that Range Resources will post 3.46 earnings per share for the current fiscal year.

Institutional Trading of Range Resources

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Range Resources by 2.8% during the 4th 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 acquiring an additional 701,751 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Range Resources by 101.2% in the 4th quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company's stock valued at $2,351,000 after acquiring an additional 33,544 shares during the period. Life Cycle Investment Partners Ltd purchased a new position in Range Resources in the fourth quarter valued at about $21,129,000. King Luther Capital Management Corp raised its holdings in shares of Range Resources by 49.8% during the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company's stock valued at $45,202,000 after buying an additional 426,300 shares during the period. Finally, Canoe Financial LP raised its stake in shares of Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company's stock valued at $56,261,000 after purchasing an additional 182,000 shares during the period. Institutional investors and hedge funds own 98.93% of the company's stock.

About Range Resources

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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