Range Resources (NYSE:RRC) Earns "Sector Perform" Rating from Royal Bank Of Canada

Range Resources (NYSE:RRC - Get Free Report)'s stock had its "sector perform" rating reaffirmed by Royal Bank Of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $45.00 target price on the oil and gas exploration company's stock. Royal Bank Of Canada's price target indicates a potential upside of 17.78% from the company's previous close.

A number of other analysts have also issued reports on RRC. Susquehanna dropped their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Mizuho boosted their price objective on Range Resources from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Piper Sandler boosted their price objective on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Stephens reissued an "overweight" rating and issued a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Finally, Roth Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Range Resources has a consensus rating of "Hold" and an average target price of $42.79.

Range Resources Stock Performance

RRC traded up $0.37 during trading on Tuesday, reaching $38.21. The company's stock had a trading volume of 2,464,597 shares, compared to its average volume of 2,545,172. The company's fifty day moving average price is $39.59 and its 200-day moving average price is $38.04. Range Resources has a 52-week low of $27.29 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 0.31 and a beta of 0.63.

Insider Activity

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the transaction, the director directly owned 13,663 shares of the company's stock, valued at $548,706.08. This represents a 23.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Erin W. Mcdowell sold 9,568 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total value of $388,652.16. Following the completion of the sale, the senior vice president directly owned 13,800 shares in the company, valued at approximately $560,556. This represents a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,080 shares of company stock valued at $2,984,479. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently made changes to their positions in RRC. Hollencrest Capital Management acquired a new stake in shares of Range Resources during the first quarter worth approximately $33,000. Bessemer Group Inc. increased its holdings in Range Resources by 48.0% in the first 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 during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Range Resources in the first quarter valued at about $39,000. Headlands Technologies LLC acquired a new position in shares of Range Resources in the 4th quarter valued at $42,000. Finally, State of Wyoming acquired a new position in shares of Range Resources in the 1st quarter valued at $71,000. 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.