Range Resources (NYSE:RRC) Price Target Raised to $44.00

Range Resources (NYSE:RRC) had its price target lifted by Stephens from $43.00 to $44.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas exploration company’s stock.

Several other equities analysts also recently commented on RRC. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Mizuho increased their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Truist Financial boosted their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group increased their price target on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Range Resources has an average rating of “Hold” and a consensus target price of $39.00.

Range Resources Trading Up 2.0 %

Shares of NYSE RRC opened at $37.11 on Wednesday. The business has a 50 day simple moving average of $37.97 and a 200 day simple moving average of $33.92. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 5.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, research analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.97%. Range Resources’s dividend payout ratio is 29.09%.

Institutional Trading of Range Resources

Institutional investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Range Resources in the third quarter worth $25,000. Smartleaf Asset Management LLC boosted its position in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 471 shares in the last quarter. UMB Bank n.a. increased its stake in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the period. Headlands Technologies LLC acquired a new position in Range Resources in the fourth quarter worth about $42,000. Finally, Blue Trust Inc. raised its position in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Company Profile

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.