Range Resources (NYSE:RRC) Price Target Lowered to $35.00 at Wells Fargo & Company

Range Resources (NYSE:RRC) had its price target decreased by analysts at Wells Fargo & Company from $37.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.13% from the company’s previous close.

Other analysts have also issued research reports about the company. Susquehanna cut their price objective on Range Resources from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Citigroup upped their price objective on Range Resources from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Truist Financial cut their price objective on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Jefferies Financial Group upped their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Barclays started coverage on Range Resources in a report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective for the company. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.30.

Range Resources Trading Up 0.6 %

NYSE:RRC opened at $31.78 on Monday. Range Resources has a 1 year low of $27.60 and a 1 year high of $39.33. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 16.13 and a beta of 1.88. The business has a fifty day moving average of $34.87 and a 200-day moving average of $33.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts predict that Range Resources will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Reginal Spiller sold 1,460 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the completion of the sale, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles G. Griffie bought 1,500 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $34.65 per share, for a total transaction of $51,975.00. Following the completion of the transaction, the director now owns 4,646 shares in the company, valued at $160,983.90. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 181,129 shares of company stock valued at $6,775,926. Corporate insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Miller Howard Investments Inc. NY increased its position in Range Resources by 2.5% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 103,381 shares of the oil and gas exploration company’s stock worth $3,466,000 after purchasing an additional 2,474 shares during the last quarter. AMG National Trust Bank increased its position in Range Resources by 5.2% in the 2nd quarter. AMG National Trust Bank now owns 44,925 shares of the oil and gas exploration company’s stock worth $1,506,000 after purchasing an additional 2,239 shares during the last quarter. Ceredex Value Advisors LLC increased its position in Range Resources by 12.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 476,339 shares of the oil and gas exploration company’s stock worth $15,972,000 after purchasing an additional 53,300 shares during the last quarter. HTLF Bank acquired a new position in shares of Range Resources during the 2nd quarter valued at about $201,000. Finally, Private Wealth Advisors LLC increased its holdings in shares of Range Resources by 31.3% during the 2nd quarter. Private Wealth Advisors LLC now owns 84,471 shares of the oil and gas exploration company’s stock valued at $2,823,000 after acquiring an additional 20,152 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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.