Range Resources (NYSE:RRC) PT Raised to $42.00 at Stephens

Range Resources (NYSE:RRC) had its price objective hoisted by equities research analysts at Stephens from $41.00 to $42.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. Stephens’ target price would indicate a potential upside of 11.44% from the company’s current price.

Several other research firms also recently weighed in on RRC. Citigroup lifted their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Raymond James reduced their price objective on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and boosted their price objective for the company from $40.00 to $45.00 in a research note on Thursday, April 11th. Truist Financial reduced their price objective on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, Morgan Stanley boosted their price objective on shares of Range Resources from $23.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus target price of $36.40.

Range Resources Price Performance

RRC opened at $37.69 on Wednesday. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $33.67 and a 200-day moving average price of $32.40. Range Resources has a twelve month low of $23.92 and a twelve month high of $38.25.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. The firm had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. Equities analysts expect that Range Resources will post 1.99 EPS for the current year.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources during the 3rd quarter valued at $27,000. Schroder Investment Management Group increased its position in Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the period. Kennedy Capital Management LLC increased its position in Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Range Resources during the 3rd quarter valued at $19,704,000. Finally, Cambria Investment Management L.P. increased its position in Range Resources by 8.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after purchasing an additional 20,685 shares during the period. 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.