Range Resources (NYSE:RRC) Stock Price Target Cut by Truist Financial

Range Resources (NYSE:RRC) had its target price lowered by equities researchers at Truist Financial from $45.00 to $43.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Truist Financial’s price target would indicate a potential upside of 7.55% from the stock’s previous close.

Several other analysts also recently commented on the company. Susquehanna reduced their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Citigroup reiterated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Morgan Stanley dropped their target price on Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Barclays upped their price target on Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th. Finally, Stifel Nicolaus began coverage on Range Resources in a report on Thursday, September 10th. They set a “hold” rating and a $46.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Range Resources Trading Up 3.4%

Shares of Range Resources stock opened at $39.98 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $9.34 billion, a P/E ratio of 11.04 and a beta of 0.71. Range Resources has a 1 year low of $32.68 and a 1 year high of $48.31. The company’s fifty day moving average is $40.06 and its two-hundred day moving average is $40.24.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Range Resources will post 3.74 earnings per share for the current year.

Insider Activity at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares in the company, valued at approximately $536,840. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently made changes to their positions in the stock. Seelaus Asset Management LLC lifted its position in Range Resources by 2.6% in the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock worth $440,000 after purchasing an additional 250 shares during the period. Root Financial Partners LLC grew its holdings in shares of Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Range Resources by 9.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,494 shares of the oil and gas exploration company’s stock worth $130,000 after purchasing an additional 291 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in Range Resources by 27.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $52,000 after purchasing an additional 300 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Range Resources by 0.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 330 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil producer headquartered in Fort Worth, Texas. The company explores for, develops and produces hydrocarbons, with a primary focus on unconventional shale resources in the Appalachian Basin.

Range’s principal operating area is the Marcellus Shale in southwestern Pennsylvania, where it produces natural gas, NGLs and condensate. Its products are sold to customers through regional and interstate pipeline systems and other market channels serving utilities, industrial users, power generators and other energy markets.

Founded in 1976, Range Resources has historically operated in several U.S.