Range Resources (NYSE:RRC) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Range Resources (NYSE:RRC) had its target price boosted by The Goldman Sachs Group from $39.00 to $43.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research note on Friday, January 17th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company increased their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.78.

Range Resources Stock Performance

Range Resources stock opened at $38.68 on Wednesday. The business has a 50 day moving average of $37.17 and a 200-day moving average of $33.33. The company has a market capitalization of $9.33 billion, a P/E ratio of 19.54 and a beta of 1.77. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

Institutional Trading of Range Resources

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after buying an additional 604,199 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Range Resources during the 3rd quarter valued at about $11,508,000. Calamos Advisors LLC bought a new stake in Range Resources during the 4th quarter worth approximately $567,000. Radnor Capital Management LLC lifted its holdings in shares of Range Resources by 156.2% in the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock valued at $1,547,000 after purchasing an additional 26,213 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Range Resources by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

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.