Range Resources (NYSE:RRC) Now Covered by Truist Financial

Analysts at Truist Financial began coverage on shares of Range Resources (NYSE:RRC) in a research report issued on Tuesday. The brokerage set a “hold” rating and a $48.00 price target on the oil and gas exploration company’s stock. Truist Financial’s price objective indicates a potential upside of 7.10% from the stock’s current price.

A number of other analysts have also weighed in on RRC. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $39.00 target price (down from $44.00) on shares of Range Resources in a research note on Monday, December 8th. Citigroup increased their price target on shares of Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Finally, Piper Sandler upped their price objective on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Range Resources has an average rating of “Hold” and a consensus target price of $42.76.

Range Resources Trading Up 0.8%

NYSE RRC opened at $44.82 on Tuesday. Range Resources has a 12 month low of $30.32 and a 12 month high of $46.19. The stock has a market cap of $10.55 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.41 and a beta of 0.57. The stock’s fifty day moving average price is $38.65 and its 200-day moving average price is $37.37. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to analyst estimates of $770.92 million. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.Range Resources’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Institutional Trading of Range Resources

A number of institutional investors have recently made changes to their positions in RRC. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $34,000. True Wealth Design LLC lifted its position in Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in Range Resources in the 4th quarter worth approximately $57,000. Finally, Basepoint Wealth LLC bought a new stake in Range Resources in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

About Range Resources

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.