Range Resources (NYSE:RRC) Upgraded to Hold at TD Cowen

TD Cowen upgraded shares of Range Resources (NYSE:RRC) to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other analysts also recently issued reports on RRC. Zacks Research downgraded Range Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. UBS Group raised their target price on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Royal Bank Of Canada lowered their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Bank of America reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Finally, Mizuho boosted their target price on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.22.

Range Resources Stock Performance

Shares of NYSE:RRC traded down $0.05 during trading on Monday, reaching $35.98. 146,371 shares of the company’s stock traded hands, compared to its average volume of 3,183,664. The stock has a market capitalization of $8.52 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 0.34 and a beta of 0.58. Range Resources has a 12 month low of $30.32 and a 12 month high of $43.50. The company has a 50 day moving average of $35.79 and a 200-day moving average of $36.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were given a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RRC. CWA Asset Management Group LLC boosted its holdings in shares of Range Resources by 43.5% during the third quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock worth $14,626,000 after purchasing an additional 117,722 shares during the period. Laffer Tengler Investments Inc. purchased a new stake in Range Resources in the 2nd quarter worth approximately $370,000. Congress Asset Management Co. boosted its stake in shares of Range Resources by 12.1% during the 3rd quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock valued at $20,299,000 after buying an additional 58,335 shares during the period. Builder Investment Group Inc. ADV boosted its stake in shares of Range Resources by 84.5% during the 3rd quarter. Builder Investment Group Inc. ADV now owns 136,820 shares of the oil and gas exploration company’s stock valued at $5,150,000 after buying an additional 62,675 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in shares of Range Resources during the 3rd quarter valued at $1,581,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.