Benchmark Reiterates Hold Rating for Range Resources (NYSE:RRC)

Range Resources (NYSE:RRCGet Free Report)‘s stock had its “hold” rating reaffirmed by equities research analysts at Benchmark in a research report issued on Tuesday, Benzinga reports.

A number of other analysts have also weighed in on RRC. Stifel Nicolaus raised their target price on Range Resources from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group raised their target price on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday. Stephens raised their target price on Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Barclays began coverage on Range Resources in a research report on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective for the company. Finally, Truist Financial lowered their price objective 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, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.15.

Check Out Our Latest Stock Report on RRC

Range Resources Stock Performance

Range Resources stock opened at $33.49 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a fifty day moving average price of $35.65 and a two-hundred day moving average price of $33.37. Range Resources has a 52-week low of $27.60 and a 52-week high of $39.33. The firm has a market capitalization of $8.13 billion, a P/E ratio of 17.00 and a beta of 1.87.

Range Resources (NYSE:RRCGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same period in the prior year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, analysts anticipate that Range Resources will post 2.12 EPS for the current fiscal year.

Insider Activity

In other news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction dated Thursday, April 25th. The stock was 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 in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction dated Thursday, April 25th. The stock was 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 in the company, valued at approximately $844,467.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now owns 15,253 shares in the company, valued at approximately $589,986.04. The disclosure for this sale can be found here. Insiders have sold 197,107 shares of company stock worth $7,379,095 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of RRC. Raleigh Capital Management Inc. acquired a new stake in Range Resources in the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. raised its position in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 666 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in Range Resources in the 4th quarter valued at approximately $52,000. Private Wealth Management Group LLC acquired a new stake in Range Resources in the 4th quarter valued at approximately $73,000. Finally, SYSTM Wealth Solutions LLC raised its position in 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 buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

(Get Free Report)

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.

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