Range Resources (NYSE:RRC – Get Free Report)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $45.00 price objective on the oil and gas exploration company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 18.88% from the company’s current price.
Several other research analysts also recently commented on RRC. Mizuho increased their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. Roth Mkm upgraded Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. Susquehanna cut their price target on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Truist Financial lifted their price objective on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, March 17th. Finally, Scotiabank set a $46.00 target price on Range Resources and gave the company a “sector perform” rating in a research report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Range Resources has a consensus rating of “Hold” and an average price target of $42.79.
Check Out Our Latest Stock Report on RRC
Range Resources Trading Down 0.6%
Insider Transactions at Range Resources
In other news, CEO Dennis Degner sold 35,850 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total transaction of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares of the company’s stock, valued at approximately $2,361,781.02. This represents a 38.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm’s stock in a transaction 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 transaction, the vice president owned 1,723 shares in the company, valued at approximately $67,197. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Range Resources
Institutional investors have recently bought and sold shares of the business. Boston Partners lifted its holdings in Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock worth $287,078,000 after buying an additional 371,777 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after acquiring an additional 624,955 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Kopernik Global Investors LLC lifted its stake in shares of Range Resources by 5.2% during the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company’s stock worth $113,667,000 after purchasing an additional 140,043 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after purchasing an additional 605,315 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other 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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