Weekly Research Analysts’ Ratings Updates for Range Resources (RRC)

Posted by Elija Maina on Nov 13th, 2024

Range Resources (NYSE: RRC) has recently received a number of price target changes and ratings updates:

11/12/2024 – Range Resources was upgraded by analysts at StockNews.com to a “sell” rating.
10/28/2024 – Range Resources is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $34.00 price target on the stock.
10/25/2024 – Range Resources had its price target lowered by analysts at Wells Fargo & Company from $39.00 to $38.00. They now have an “equal weight” rating on the stock.
10/23/2024 – Range Resources had its price target raised by analysts at Stephens from $36.00 to $37.00. They now have an “overweight” rating on the stock.
10/23/2024 – Range Resources had its “hold” rating reaffirmed by analysts at Benchmark Co..
10/17/2024 – Range Resources had its price target raised by analysts at Stephens from $35.00 to $36.00. They now have an “overweight” rating on the stock.
10/9/2024 – Range Resources had its price target lowered by analysts at Mizuho from $45.00 to $40.00. They now have an “outperform” rating on the stock.
10/2/2024 – Range Resources was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $34.00 price target on the stock, down previously from $35.00.
10/1/2024 – Range Resources was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $39.00 price target on the stock, up previously from $35.00.
9/18/2024 – Range Resources had its price target lowered by analysts at UBS Group AG from $30.00 to $27.00. They now have a “sell” rating on the stock.
9/16/2024 – Range Resources had its price target lowered by analysts at Morgan Stanley from $33.00 to $31.00. They now have an “underweight” rating on the stock.
9/16/2024 – Range Resources had its price target lowered by analysts at Mizuho from $47.00 to $45.00. They now have an “outperform” rating on the stock.

Range Resources Trading Down 0.5 %

Shares of Range Resources stock traded down $0.18 during trading on Wednesday, hitting $33.91. 1,700,074 shares of the company were exchanged, compared to its average volume of 2,356,582. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $8.18 billion, a P/E ratio of 17.13 and a beta of 1.80. The firm’s fifty day moving average price is $30.65 and its 200 day moving average price is $32.63.

Range Resources (NYSE:RRC – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Range Resources Co. will post 1.87 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. Range Resources’s payout ratio is 16.16%.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 directly owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the transaction, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RRC. Brooklyn Investment Group bought a new position in Range Resources during the third quarter valued at $25,000. Blue Trust Inc. increased its position in Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the period. Bogart Wealth LLC purchased a new position in shares of Range Resources in the 3rd quarter worth approximately $49,000. Fifth Third Bancorp grew its position in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the last quarter. Finally, Perkins Coie Trust Co purchased a new position in shares of Range Resources in the 2nd quarter worth approximately $67,000. 98.93% of the stock is currently owned by institutional investors.

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.