Range Resources Corporation (NYSE:RRC) had its price target dropped by research analysts at Citigroup Inc. from $34.00 to $30.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Citigroup Inc.’s target price would suggest a potential upside of 77.30% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. KLR Group increased their target price on shares of Range Resources Corporation from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. J P Morgan Chase & Co reissued a “buy” rating on shares of Range Resources Corporation in a report on Tuesday, April 25th. Scotiabank reissued a “buy” rating and issued a $44.00 target price on shares of Range Resources Corporation in a report on Friday, April 21st. Jefferies Group LLC reissued a “buy” rating and issued a $41.00 target price on shares of Range Resources Corporation in a report on Monday, May 1st. Finally, Evercore ISI raised shares of Range Resources Corporation to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Range Resources Corporation currently has a consensus rating of “Buy” and a consensus price target of $39.97.

Range Resources Corporation (NYSE:RRC) traded up 0.0366% during trading on Tuesday, hitting $16.9262. 809,296 shares of the stock were exchanged. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 114.3662 and a beta of 0.92. Range Resources Corporation has a 1-year low of $16.50 and a 1-year high of $43.60. The company has a 50-day moving average price of $20.83 and a 200 day moving average price of $25.66.

Range Resources Corporation (NYSE:RRC) last released its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.20. The company had revenue of $565 million during the quarter, compared to analyst estimates of $544.08 million. Range Resources Corporation had a net margin of 1.75% and a return on equity of 0.67%. The firm’s quarterly revenue was up 55.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.35) EPS. Equities analysts predict that Range Resources Corporation will post $0.54 earnings per share for the current fiscal year.

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In related news, Director Steffen E. Palko purchased 15,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $16.81 per share, for a total transaction of $252,150.00. Following the completion of the transaction, the director now directly owns 27,267 shares in the company, valued at $458,358.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Chad L. Stephens sold 28,744 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $23.05, for a total value of $662,549.20. Following the completion of the sale, the insider now owns 106,692 shares of the company’s stock, valued at $2,459,250.60. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 30,000 shares of company stock valued at $541,640 and sold 36,521 shares valued at $842,742. 0.42% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of RRC. Northwestern Mutual Wealth Management Co. increased its stake in shares of Range Resources Corporation by 49.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the oil and gas exploration company’s stock worth $100,000 after buying an additional 769 shares in the last quarter. AXA increased its stake in shares of Range Resources Corporation by 26.4% in the first quarter. AXA now owns 3,128 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 653 shares in the last quarter. Bartlett & Co. LLC increased its stake in shares of Range Resources Corporation by 43.0% in the first quarter. Bartlett & Co. LLC now owns 3,475 shares of the oil and gas exploration company’s stock worth $101,000 after buying an additional 1,045 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Range Resources Corporation by 997.2% in the third quarter. CENTRAL TRUST Co now owns 2,743 shares of the oil and gas exploration company’s stock worth $106,000 after buying an additional 2,493 shares in the last quarter. Finally, Smithfield Trust Co. increased its stake in shares of Range Resources Corporation by 480.0% in the second quarter. Smithfield Trust Co. now owns 4,640 shares of the oil and gas exploration company’s stock worth $107,000 after buying an additional 3,840 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Range Resources Corporation Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

Analyst Recommendations for Range Resources Corporation (NYSE:RRC)

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