Range Resources (NYSE:RRC) PT Lowered to $38.00 at Wells Fargo & Company

Range Resources (NYSE:RRC) had its target price decreased by equities researchers at Wells Fargo & Company from $39.00 to $38.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 20.87% from the stock’s previous close.

RRC has been the topic of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. UBS Group reduced their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Mizuho reduced their target price on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Finally, Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. Four equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.06.

Range Resources Stock Up 1.6 %

Shares of NYSE:RRC opened at $31.44 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The stock’s fifty day simple moving average is $30.23 and its 200-day simple moving average is $33.06. The company has a market capitalization of $7.63 billion, a P/E ratio of 15.96 and a beta of 1.80.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts forecast that Range Resources will post 1.88 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in Range Resources by 25.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares during the last quarter. Boston Partners boosted its holdings in Range Resources by 2.1% in the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after purchasing an additional 93,782 shares during the last quarter. Finally, KGH Ltd boosted its holdings in Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.