In yesterday’s Wall Street session, Range Resources Corporation (NYSE:RRC) shares traded at $24.33, down -2.76% from the previous session.
As of this writing, 27 analysts cover Range Resources Corporation (NYSE:RRC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $53.00 and a low of $24.00, we find $33.00. Given the previous closing price of $25.02, this indicates a potential upside of 31.89 percent. RRC stock price is now -6.92% away from the 50-day moving average and -15.74% away from the 200-day moving average. The market capitalization of the company currently stands at $5.87B.
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There are 14 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $34.17 as their price target over the next twelve months.
With the price target of $28, Wells Fargo recently initiated with Equal Weight rating for Range Resources Corporation (NYSE: RRC)., while ‘Mizuho’ rates the stock as ‘Neutral’.
In other news, Ginn Dori, SVP, Principal Accting Officer sold 5,000 shares of the company’s stock on Aug 26. The stock was sold for $173,255 at an average price of $34.65. Upon completion of the transaction, the SVP, Principal Accting Officer now directly owns 80,801 shares in the company, valued at $1.97 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02, Director Spiller Reginal sold 1,600 shares of the business’s stock. A total of $50,306 was realized by selling the stock at an average price of $31.44. This leaves the insider owning 10,685 shares of the company worth $0.26 million. Insiders disposed of 486,328 shares of company stock worth roughly $11.83 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RRC stock. A new stake in Range Resources Corporation shares was purchased by THIRD POINT LLC during the first quarter worth $94,887,000. PACER ADVISORS, INC. invested $18,147,000 in shares of RRC during the first quarter. In the first quarter, ROYAL LONDON ASSET MANAGEMENT LTD acquired a new stake in Range Resources Corporation valued at approximately $11,686,000. NATIXIS acquired a new stake in RRC for approximately $11,444,000. WALLEYE CAPITAL LLC purchased a new stake in RRC valued at around $8,901,000 in the second quarter. In total, there are 483 active investors with 89.50% ownership of the company’s stock.
Wednesday morning saw Range Resources Corporation (NYSE: RRC) opened at $24.52. During the past 12 months, Range Resources Corporation has had a low of $18.62 and a high of $37.44. The fifty day moving average price for RRC is $26.14 and a two-hundred day moving average price translates $28.88 for the stock.
The latest earnings results from Range Resources Corporation (NYSE: RRC) was released for Sep, 2022. According to the Oil & Gas E&P Company, earnings per share came in at $1.37, missing analysts’ expectations of $1.4 by -0.03. This compares to -$1.44 EPS in the same period last year. The net profit margin was -1.60% and return on equity was -4.30% for RRC. The company reported revenue of $1.11 billion for the quarter, compared to $302.64 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 266.95 percent. For the current quarter, analysts expect RRC to generate $1.05B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/15/2022 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 1.32% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend.
Range Resources Corporation(RRC) Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil 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. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. Range Resources Corporation was founded in 1976 and is headquartered in Fort Worth, Texas.
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