Shares of Range Resources Co. (NYSE: RRC – Get Rating) received a consensus recommendation of “Hold” by the twenty-two rating companies that cover the company, MarketBeat.com reports. Two investment analysts rated the stock with a sell recommendation, eight gave a hold recommendation and seven gave the company a buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $30.21.
A number of research companies have weighed in on RRC recently. Susquehanna Bancshares raised its target price on Range Resources from $24.00 to $34.00 in a Monday, April 25 research report. Morgan Stanley raised its price target on Range Resources from $25.00 to $32.00 and gave the stock an “underweight” rating in a Friday, April 22 research report. TD Securities cut its price target on Range Resources from $31.00 to $30.00 and set a “hold” rating on the stock in a Wednesday, April 27 research report. Wells Fargo & Company raised its price target on Range Resources from $34.00 to $41.00 and gave the stock an “equal weight” rating in a Monday, March 14 research report. Finally, Zacks Investment Research downgraded Range Resources from a “hold” rating to a “sell” rating and set a target price of $19.00 for the stock. in a research report on Thursday, January 6.
In other Range Resources news, SVP Dori Ginn sold 10,000 shares of Range Resources in a trade on Friday, April 8. The shares were sold at an average price of $32.60, for a total transaction of $326,000.00. Following the completion of the sale, the senior vice president now owns 75,098 shares of the company, valued at approximately $2,448,194.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Insiders of the company own 1.10% of the shares of the company.
A number of institutional investors and hedge funds have recently increased or reduced their stake in RRC. JPMorgan Chase & Co. increased its stake in Range Resources by 223.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,093,208 shares of the oil and gas exploration company worth $108,642,000 after acquiring an additional 4,209,030 shares during the period. Renaissance Technologies LLC increased its holdings of Range Resources shares by 499.4% in Q4. Renaissance Technologies LLC now owns 2,000,551 shares of the oil and gas exploration company valued at $35,670,000 after purchasing an additional 1,666,788 shares during the period. Assenagon Asset Management SA increased its holdings of Range Resources shares by 284.0% in the 4th quarter. Assenagon Asset Management SA now owns 1,685,239 shares of the oil and gas exploration company valued at $30,048,000 after purchasing an additional 1,246,362 shares during the period. Georgetown University acquired a new stock position in Range Resources in Q4 worth $18,832,000. Finally, Voloridge Investment Management LLC increased its holdings in Range Resources shares by 269.4% in the third quarter. Voloridge Investment Management LLC now owns 1,218,786 shares of the oil and gas exploration company valued at $27,581,000 after purchasing an additional 888,878 shares during the period. 91.40% of the shares are held by hedge funds and other institutional investors.
NYSE:RRC shares opened at $29.94 on Monday. The company has a market capitalization of $7.87 billion, a P/E ratio of -62.37, a P/E/G ratio of 0.22 and a beta of 2.12. The stock’s 50-day moving average is $28.69 and its 200-day moving average is $23.47. Range Resources has a 52-week low of $9.50 and a 52-week high of $34.61. The company has a debt ratio of 1.14, a quick ratio of 0.64 and a current ratio of 0.25.
Range Resources (NYSE:RRC – Get Rating) last released its quarterly results on Tuesday, April 26. The oil and gas exploration company reported earnings per share (EPS) of $1.18 for the quarter, beating Thomson Reuters consensus estimate of $1.08 by $0.10. Range Resources posted a positive return on equity of 45.50% and a negative net margin of 2.90%. During the same period of the previous year, the company achieved EPS of $0.30. As a group, stock analysts predict Range Resources will post a current year EPS of 4.87.
Range Resources announced that its board of directors authorized a stock repurchase plan on Tuesday, February 22 that allows the company to repurchase $500.00 million in stock. This repurchase authorization authorizes the oil and gas exploration company to repurchase up to 9.6% of its shares through open market purchases. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.
Range Resources Company Profile (Get an assessment)
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGL) and petroleum company in the United States. The Company is engaged in the exploration, development and acquisition of oil and gas properties. As of December 31, 2021, the Company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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