UBS Group Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Key Points

• UBS Group has raised its price target for Range Resources from $40.00 to $42.00, indicating a potential upside of 18.10% from the current price.
• Range Resources has seen its stock rated as "neutral" by multiple analysts, with a consensus price target of $43.37 and various ratings ranging from "sell" to "strong buy."
• In a recent earnings report, Range Resources reported $0.66 earnings per share, exceeding expectations and reflecting increased revenue of $856.28 million for the quarter.

Range Resources (NYSE:RRC - Get Free Report) had its target price raised by stock analysts at UBS Group from $40.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas exploration company's stock. UBS Group's price target suggests a potential upside of 18.10% from the stock's current price.

Other research analysts also recently issued research reports about the company. Susquehanna lifted their price target on Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Piper Sandler lifted their price objective on Range Resources from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday. Raymond James Financial lifted their price objective on Range Resources from $46.00 to $55.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Wall Street Zen cut Range Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Range Resources currently has an average rating of "Hold" and a consensus price target of $43.37.

Range Resources Stock Up 0.5%

Shares of RRC stock traded up $0.16 on Monday, reaching $35.56. 1,954,664 shares of the company's stock traded hands, compared to its average volume of 2,943,382. Range Resources has a 12-month low of $27.29 and a 12-month high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $8.47 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.29 and a beta of 0.63. The business's 50 day moving average price is $39.16 and its two-hundred day moving average price is $38.04.

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

Insider Transactions at Range Resources

In other news, Director James M. Funk sold 13,582 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director directly owned 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.00, for a total value of $502,320.00. Following the completion of the sale, the vice president owned 1,723 shares in the company, valued at approximately $67,197. This represents a 88.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,080 shares of company stock worth $2,984,479. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in Range Resources in the 1st quarter valued at $33,000. Bessemer Group Inc. boosted its position in 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 buying an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Range Resources in the 1st quarter valued at $39,000. Barrett & Company Inc. bought a new position in Range Resources in the 2nd quarter valued at $41,000. Finally, Headlands Technologies LLC bought a new position in Range Resources in the 4th quarter valued at $42,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Company Profile

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.

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