Morgan Stanley Remains a Hold on Range Resources (RRC)
In a report released today, Devin McDermott from Morgan Stanley maintained a Hold rating on Range Resources, with a price target of $42.27.
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According to TipRanks, McDermott is a 5-star analyst with an average return of 11.2% and a 59.27% success rate. McDermott covers the Energy sector, focusing on stocks such as Expand Energy, APA, and Devon Energy.
The word on The Street in general, suggests a Hold analyst consensus rating for Range Resources with a $44.88 average price target.
Based on Range Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $787.26 million and a net profit of $179.09 million. In comparison, last year the company earned a revenue of $666.98 million and had a net profit of $94.84 million
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RRC in relation to earlier this year. Earlier this month, Brenda Cline, a Director at RRC sold 7,000.00 shares for a total of $310,800.00.
Read More on RRC:
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- “If Interest Rates Were Spiking, This Market Would Be Very Different,” Says Jim Cramer
- Range Resources price target lowered to $45 from $50 at Citi
- Range, Adicet, Nova, PBF, Dorian: Insider Shake-Up
- Range Resources price target lowered to $46 from $48 at Truist
- Operational Strength and Long-Term Growth Offset by Premium Valuation: Justifying a Hold Rating on Range
