Range Resources (NYSE:RRC) Price Target Raised to $43.00 at Piper Sandler

Range Resources (NYSE:RRC) had its target price increased by research analysts at Piper Sandler from $41.00 to $43.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas exploration company’s stock. Piper Sandler’s price target points to a potential upside of 15.10% from the stock’s current price.

Several other research analysts have also recently weighed in on RRC. Citigroup lifted their price target 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. Morgan Stanley raised their price objective on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Truist Financial lowered their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Barclays started coverage on shares of Range Resources in a research note on Wednesday, April 10th. They set an “underweight” rating and a $35.00 target price on the stock. Finally, Susquehanna upped their price target on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.75.

Range Resources Stock Up 0.1 %

RRC stock opened at $37.36 on Tuesday. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 18.96 and a beta of 1.83. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The business’s 50-day moving average is $33.94 and its two-hundred day moving average is $32.42. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25.

Range Resources (NYSE:RRC) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 EPS. As a group, analysts forecast that Range Resources will post 2 earnings per share for the current year.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following 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 legal filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the stock. SYSTM Wealth Solutions LLC lifted its stake in Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the last quarter. Orser Capital Management LLC raised its stake in shares of Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares during the period. Fifth Third Bancorp grew its stake in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 490 shares in the last quarter. Finally, Lmcg Investments LLC increased its holdings in Range Resources by 0.4% during the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after purchasing an additional 546 shares during the period. 98.93% of the stock is 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.