Range Resources - RRC Stock Forecast, Price & News

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 Performance

Shares of RRC Stock traded up $0.88 during mid-day trading on Thursday, reaching $33.58. The stock had a trading volume of 73,216 shares, compared to its average volume of 3,835,002. The firm's 50 day simple moving average is $29.59 and its 200 day simple moving average is $27.96. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.93. Range Resources has a one year low of $12.37 and a one year high of $37.44. The firm has a market cap of $8.83 billion, a PE ratio of 16.86, a P/E/G ratio of 0.22 and a beta of 2.14.

Range Resources (NYSE:RRC - Get Rating) last announced its quarterly earnings data on Monday, July 25th. The oil and gas exploration company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.15. Range Resources had a return on equity of 56.92% and a net margin of 16.40%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $959.91 million. During the same quarter last year, the company earned $0.24 EPS. The company's quarterly revenue was up 181.8% on a year-over-year basis. On average, analysts forecast that Range Resources will post 5.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RRC shares. The Goldman Sachs Group dropped their target price on Range Resources from $35.50 to $31.00 and set a "sell" rating on the stock in a research report on Tuesday, July 5th. Morgan Stanley lowered their price objective on Range Resources from $32.00 to $31.00 and set an "underweight" rating on the stock in a report on Tuesday, July 19th. Piper Sandler lowered their price objective on Range Resources from $45.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, July 22nd. Mizuho lowered their price objective on Range Resources from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, July 19th. Finally, Susquehanna increased their price objective on Range Resources from $24.00 to $34.00 in a report on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $34.00.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The stock was 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 approximately $335,936.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Scucchi sold 55,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $32.67, for a total transaction of $1,796,850.00. Following the completion of the transaction, the chief financial officer now owns 446,341 shares in the company, valued at approximately $14,581,960.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Reginal Spiller sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $31.44, for a total value 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. In the last quarter, insiders sold 164,100 shares of company stock worth $5,394,179. 1.10% of the stock is currently owned by company insiders.