Range Resources (NYSE:RRC) Price Target Cut to $30.00 by Analysts at Piper Sandler

Range Resources (NYSE:RRC - Get Free Report) had its target price decreased by research analysts at Piper Sandler from $31.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas exploration company's stock. Piper Sandler's price objective indicates a potential downside of 12.46% from the stock's previous close.

RRC has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on shares of Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Friday, October 25th. Benchmark restated a "hold" rating on shares of Range Resources in a research note on Wednesday, October 23rd. Scotiabank raised Range Resources from a "sector perform" rating to a "sector outperform" rating and set a $45.00 price target on the stock in a research report on Tuesday, August 20th. Susquehanna decreased their price objective on Range Resources from $36.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Finally, Stephens upped their price objective on shares of Range Resources from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Range Resources has a consensus rating of "Hold" and an average target price of $34.94.

Range Resources Stock Performance

Shares of RRC traded up $0.83 on Monday, reaching $34.27. 1,315,711 shares of the company's stock traded hands, compared to its average volume of 2,348,301. The stock's 50 day simple moving average is $31.10 and its two-hundred day simple moving average is $32.58. The stock has a market cap of $8.27 billion, a PE ratio of 17.31 and a beta of 1.80. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results 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. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business's revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.43 EPS. On average, analysts forecast that Range Resources will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources 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 transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 56.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company's stock.

Institutional Trading of Range Resources

A number of institutional investors have recently modified their holdings of RRC. Geode Capital Management LLC increased its position in shares of Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock valued at $123,174,000 after buying an additional 35,344 shares during the period. M&T Bank Corp lifted its stake in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after purchasing an additional 327 shares during the period. Barclays PLC boosted its position in shares of Range Resources by 180.8% during the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company's stock valued at $6,830,000 after purchasing an additional 142,938 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in Range Resources in the third quarter worth $467,000. Finally, DF Dent & Co. Inc. raised its holdings in Range Resources by 72.7% in the third quarter. DF Dent & Co. Inc. now owns 133,185 shares of the oil and gas exploration company's stock worth $4,097,000 after purchasing an additional 56,050 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.