Range Resources Corporation (RRC) Price Target Cut to $30.00
Range Resources Corporation (NYSE:RRC) had its price objective cut by Citigroup Inc. from $34.00 to $30.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 77.30% from the company’s current price.
A number of other research analysts have also weighed in on RRC. Barclays PLC reissued a “sell” rating and set a $26.00 price target (down previously from $29.00) on shares of Range Resources Corporation in a research note on Thursday, April 20th. Piper Jaffray Companies reissued an “overweight” rating and set a $49.00 price target on shares of Range Resources Corporation in a research note on Thursday, April 27th. KLR Group increased their price target on Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Scotiabank reissued a “buy” rating and set a $44.00 price target on shares of Range Resources Corporation in a research note on Friday, April 21st. Finally, Evercore ISI raised Range Resources Corporation to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.97.
Shares of Range Resources Corporation (NYSE RRC) traded down 0.0922% during trading on Tuesday, reaching $16.9044. The company had a trading volume of 845,929 shares. Range Resources Corporation has a 12 month low of $16.50 and a 12 month high of $43.60. The firm has a market capitalization of $4.13 billion, a P/E ratio of 114.2189 and a beta of 0.92. The firm’s 50 day moving average price is $20.83 and its 200 day moving average price is $25.66.
Range Resources Corporation (NYSE:RRC) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.20. The firm had revenue of $565 million for the quarter, compared to analysts’ expectations of $544.08 million. Range Resources Corporation had a return on equity of 0.67% and a net margin of 1.75%. Range Resources Corporation’s quarterly revenue was up 55.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.35) EPS. Equities analysts predict that Range Resources Corporation will post $0.54 EPS for the current year.
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In other Range Resources Corporation news, Director Steffen E. Palko purchased 15,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $16.81 per share, with a total value of $252,150.00. Following the completion of the acquisition, the director now owns 27,267 shares in the company, valued at approximately $458,358.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad L. Stephens sold 28,744 shares of Range Resources Corporation stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $23.05, for a total value of $662,549.20. Following the sale, the insider now directly owns 106,692 shares in the company, valued at approximately $2,459,250.60. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 30,000 shares of company stock worth $541,640 and have sold 36,521 shares worth $842,742. Insiders own 0.42% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bartlett & Co. LLC boosted its stake in Range Resources Corporation by 43.0% in the first quarter. Bartlett & Co. LLC now owns 3,475 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 1,045 shares during the period. Smithfield Trust Co. boosted its stake in Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Range Resources Corporation by 7.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,756 shares of the oil and gas exploration company’s stock worth $109,000 after buying an additional 257 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Range Resources Corporation by 0.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,109 shares of the oil and gas exploration company’s stock worth $119,000 after buying an additional 31 shares during the period. Finally, Financial Architects Inc boosted its stake in Range Resources Corporation by 24.5% in the second quarter. Financial Architects Inc now owns 6,100 shares of the oil and gas exploration company’s stock worth $141,000 after buying an additional 1,200 shares during the period. 95.13% of the stock is currently owned by institutional investors.
About Range Resources Corporation
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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