Range Resources (NYSE:RRC) Price Target Raised to $34.00 at Jefferies Financial Group

Range Resources (NYSE:RRC) had its price target raised by equities research analysts at Jefferies Financial Group from $32.00 to $34.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s price target points to a potential downside of 1.59% from the stock’s previous close.

Several other analysts have also recently issued reports on RRC. Citigroup upped their price objective on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Barclays initiated coverage on shares of Range Resources in a research report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 price objective for the company. Raymond James reduced their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada cut shares of Range Resources from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $36.00 to $39.00 in a research report on Friday, April 26th. Finally, Truist Financial dropped their price target on Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.62.

Range Resources Stock Down 3.8 %

NYSE RRC opened at $34.55 on Thursday. Range Resources has a 12 month low of $23.92 and a 12 month high of $38.25. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.38 billion, a PE ratio of 17.54 and a beta of 1.85. The stock’s 50 day moving average is $34.04 and its 200 day moving average is $32.42.

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, beating analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Research analysts predict that Range Resources will post 2 EPS for the current fiscal year.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of RRC. SYSTM Wealth Solutions LLC raised its position in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares during the last quarter. Orser Capital Management LLC lifted its holdings in shares of Range Resources by 0.8% in the 1st 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 buying an additional 427 shares during the period. Alliance Wealth Advisors LLC UT grew its holdings in Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after acquiring an additional 431 shares during the period. Fifth Third Bancorp raised its position in Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares in the last quarter. Finally, Lmcg Investments LLC lifted its holdings in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after acquiring an additional 546 shares during the period. 98.93% of the stock is owned by hedge funds and other 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.