Range Resources (NYSE:RRC) Price Target Raised to $37.00

Range Resources (NYSE:RRC) had its target price upped by Truist Financial from $35.00 to $37.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company increased their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Stephens increased their price objective on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a report on Thursday, February 27th. The Goldman Sachs Group increased their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Range Resources presently has an average rating of “Hold” and a consensus price target of $39.95.

Range Resources Stock Up 2.1 %

Shares of NYSE RRC opened at $40.48 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $9.77 billion, a PE ratio of 20.44, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources has a one year low of $27.29 and a one year high of $41.95. The business’s fifty day moving average price is $38.47 and its 200-day moving average price is $34.62.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Range Resources’s dividend payout ratio is 32.73%.

Institutional Trading of Range Resources

Hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. grew its position in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after acquiring an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Range Resources in the 4th quarter valued at $33,684,000. Amundi grew its holdings in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after purchasing an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after purchasing an additional 624,955 shares during the period. Finally, Northern Trust Corp lifted its stake in Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after purchasing an additional 605,315 shares during the last quarter. Institutional investors 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.