Range Resources (NYSE:RRC) Given New $42.00 Price Target at Barclays

Range Resources (NYSE:RRC) had its price objective lifted by investment analysts at Barclays from $40.00 to $42.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas exploration company’s stock. Barclays‘s target price points to a potential upside of 0.06% from the stock’s current price.

RRC has been the subject of several other reports. Stephens boosted their price objective on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Susquehanna cut their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. The Goldman Sachs Group lowered their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, UBS Group set a $42.00 price target on Range Resources in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.75.

Range Resources Stock Down 0.1%

RRC stock opened at $41.98 on Tuesday. The stock has a market capitalization of $9.81 billion, a P/E ratio of 11.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. Range Resources has a 1-year low of $32.68 and a 1-year high of $48.31. The business has a fifty day moving average price of $39.21 and a 200-day moving average price of $40.51.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. During the same period last year, the firm posted $0.66 earnings per share. Range Resources’s revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Range Resources will post 3.62 earnings per share for the current fiscal year.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the transaction, the director directly owned 13,421 shares of the company’s stock, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently modified their holdings of RRC. Seelaus Asset Management LLC lifted its stake in shares of Range Resources by 2.6% during the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 250 shares in the last quarter. Root Financial Partners LLC raised its holdings in Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 276 shares during the period. UMB Bank n.a. raised its holdings in Range Resources by 13.0% during the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after acquiring an additional 279 shares during the period. Toth Financial Advisory Corp lifted its position in shares of Range Resources by 27.3% in the second quarter. Toth Financial Advisory Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $52,000 after acquiring an additional 300 shares in the last quarter. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Range Resources by 0.9% in the first quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock worth $1,745,000 after acquiring an additional 330 shares during the period. 98.93% of the stock is currently owned by institutional investors.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.