Susquehanna Lowers Range Resources (NYSE:RRC) Price Target to $41.00

Range Resources (NYSE:RRC) had its target price dropped by stock analysts at Susquehanna from $45.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Susquehanna’s target price points to a potential upside of 10.48% from the company’s current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Bank of America increased their price objective on Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Stephens decreased their target price on shares of Range Resources from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 10th. Freedom Capital raised Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Truist Financial lowered their price objective on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.12.

Range Resources Stock Performance

Shares of RRC stock traded up $0.44 on Tuesday, hitting $37.11. 418,472 shares of the stock traded hands, compared to its average volume of 3,278,431. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $8.74 billion, a PE ratio of 9.81 and a beta of 0.41. Range Resources has a 1-year low of $32.60 and a 1-year high of $48.31. The company’s fifty day moving average is $38.47 and its 200 day moving average is $39.36.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The firm’s revenue was up 49.8% on a year-over-year basis. On average, equities research analysts predict that Range Resources will post 3.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Boston Partners raised its holdings in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after buying an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC increased its position in Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after buying an additional 2,045,165 shares during the period. UBS Group AG raised its stake in Range Resources by 66.3% during the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after purchasing an additional 1,430,477 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Range Resources in the first quarter valued at about $64,481,000. Finally, Morgan Stanley raised its holdings in Range Resources by 54.1% in the 4th quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company’s stock valued at $115,202,000 after acquiring an additional 1,147,304 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

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.