Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. Range Resources Corporation was founded in 1976 and is headquartered in Fort Worth, Texas.
Range Resources Stock Up 2.8 %
RRC Stock opened at $34.31 on Friday. Range Resources has a one year low of $12.37 and a one year high of $37.44. The stock has a market capitalization of $9.02 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.23 and a beta of 2.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.33 and a current ratio of 0.33. The company has a fifty day moving average of $29.35 and a 200-day moving average of $28.59.
Range Resources (NYSE:RRC - Get Rating) last released its earnings results on Monday, July 25th. The oil and gas exploration company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.12 by $0.15. Range Resources had a net margin of 16.40% and a return on equity of 56.92%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $959.91 million. During the same quarter last year, the business earned $0.24 EPS. The business's revenue was up 181.8% on a year-over-year basis. As a group, analysts expect that Range Resources will post 5.19 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Susquehanna increased their target price on shares of Range Resources from $24.00 to $34.00 in a research report on Monday, April 25th. Morgan Stanley lowered their price objective on shares of Range Resources from $32.00 to $31.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 19th. TheStreet raised shares of Range Resources from a "c" rating to a "b-" rating in a research report on Tuesday, July 26th. Truist Financial raised their price objective on shares of Range Resources to $34.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Finally, Credit Suisse Group raised their price objective on shares of Range Resources from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $34.00.
Insider Activity at Range Resources
In related news, Director Reginal Spiller sold 1,600 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $31.44, for a total value of $50,304.00. Following the completion of the sale, the director now owns 10,685 shares in the company, valued at $335,936.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Range Resources news, SVP David P. Poole sold 85,000 shares of Range Resources stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $32.67, for a total transaction of $2,776,950.00. Following the completion of the transaction, the senior vice president now owns 753,577 shares in the company, valued at $24,619,360.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reginal Spiller sold 1,600 shares of Range Resources stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $31.44, for a total transaction of $50,304.00. Following the transaction, the director now owns 10,685 shares of the company's stock, valued at approximately $335,936.40. The disclosure for this sale can be found here. Insiders sold 164,100 shares of company stock worth $5,394,179 over the last 90 days. Company insiders own 1.10% of the company's stock.
