Truist Financial Issues Pessimistic Forecast for Range Resources (NYSE:RRC) Stock Price

Range Resources (NYSE:RRC) had its price objective lowered by analysts at Truist Financial from $48.00 to $46.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Truist Financial’s price objective suggests a potential upside of 7.24% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Freedom Capital raised Range Resources to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Barclays lifted their price objective on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. UBS Group lifted their price objective on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Royal Bank Of Canada decreased their price objective on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average price target of $43.06.

Range Resources Stock Down 0.1%

NYSE RRC opened at $42.89 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $41.20 and its two-hundred day moving average is $38.28. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.33 and a beta of 0.51. Range Resources has a 1-year low of $31.82 and a 1-year high of $48.31.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. The company had revenue of $786.89 million for the quarter, compared to the consensus estimate of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. Equities analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director directly owned 28,668 shares of the company’s stock, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RRC. Empowered Funds LLC boosted its holdings in shares of Range Resources by 2.1% in the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after acquiring an additional 1,563 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Range Resources by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after acquiring an additional 8,816 shares in the last quarter. Focus Partners Wealth bought a new position in Range Resources in the 1st quarter worth approximately $285,000. EverSource Wealth Advisors LLC raised its position in Range Resources by 63.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after purchasing an additional 1,139 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Range Resources by 8.0% in the 2nd quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock worth $16,701,000 after purchasing an additional 30,481 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.