Range Resources (NYSE:RRC) Price Target Raised to $44.00

Range Resources (NYSE:RRC) had its price objective hoisted by analysts at Bank of America from $38.00 to $44.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Bank of America‘s target price suggests a potential upside of 6.95% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. TD Cowen raised their price objective on Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Piper Sandler raised their price objective on Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Freedom Capital raised Range Resources to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings raised Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.12.

Range Resources Stock Down 1.4%

Shares of RRC stock opened at $41.14 on Tuesday. The stock has a market cap of $9.69 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.33 and a beta of 0.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The business’s fifty day moving average is $41.85 and its 200-day moving average is $38.46. Range Resources has a 1 year low of $32.08 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, topping the consensus estimate of $0.69 by $0.13. The business 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%.The company’s revenue was up 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. Equities analysts expect that Range Resources will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the transaction, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources during the fourth quarter valued at $34,000. True Wealth Design LLC boosted 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 last quarter. Smartleaf Asset Management LLC boosted its position in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Range Resources during the fourth quarter valued at $57,000. Finally, Basepoint Wealth LLC acquired a new stake in Range Resources during the fourth quarter valued at $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.