Range Resources (NYSE:RRC) PT Raised to $38.00 at Wells Fargo & Company

Range Resources (NYSE:RRC) had its price objective increased by equities researchers at Wells Fargo & Company from $35.00 to $38.00 in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.93% from the company’s previous close.

RRC has been the topic of a number of other research reports. Mizuho lifted their price target on shares of Range Resources from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. VNET Group reiterated an “upgrade” rating on shares of Range Resources in a report on Friday, May 19th. Siebert Williams Shank cut shares of Range Resources from a “buy” rating to a “hold” rating and set a $38.00 price target for the company. in a report on Monday, August 14th. Piper Sandler boosted their price objective on Range Resources from $37.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. Finally, UBS Group raised their target price on Range Resources from $24.00 to $28.00 and gave the company a “sell” rating in a report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.19.

Range Resources Stock Up 3.0 %

Range Resources stock opened at $33.36 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. Range Resources has a 1-year low of $22.61 and a 1-year high of $34.54. The firm’s fifty day simple moving average is $30.80 and its 200-day simple moving average is $27.99. The company has a market capitalization of $8.03 billion, a P/E ratio of 4.86, a P/E/G ratio of 0.57 and a beta of 2.12.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $637.00 million during the quarter, compared to analysts’ expectations of $567.67 million. Range Resources had a return on equity of 31.85% and a net margin of 37.22%. The business’s quarterly revenue was down 48.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Sell-side analysts forecast that Range Resources will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 1,950 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.80, for a total value of $52,260.00. Following the transaction, the director now directly owns 16,713 shares of the company’s stock, valued at approximately $447,908.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Portside Wealth Group LLC acquired a new stake in Range Resources in the 2nd quarter valued at about $2,142,000. Delphi Management Inc. MA bought a new stake in shares of Range Resources during the second quarter valued at approximately $1,262,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Range Resources in the second quarter valued at approximately $2,408,000. Comerica Bank bought a new position in Range Resources in the 2nd quarter worth approximately $11,807,000. Finally, Osaic Holdings Inc. lifted its holdings in Range Resources by 27.9% during the 2nd quarter. Osaic Holdings Inc. now owns 32,097 shares of the oil and gas exploration company’s stock worth $941,000 after buying an additional 6,997 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

About Range Resources

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. 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.