Range Resources (NYSE:RRC) Given New $40.00 Price Target at Barclays

Range Resources (NYSE:RRC) had its price objective upped by Barclays from $34.00 to $40.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas exploration company’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler raised their price target on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Friday, January 3rd. Benchmark restated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Citigroup lifted their target price on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, StockNews.com raised Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.00.

Range Resources Stock Down 0.2 %

NYSE:RRC opened at $37.52 on Thursday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.95 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s fifty day moving average price is $36.51 and its two-hundred day moving average price is $32.92. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Canoe Financial LP boosted its stake in shares of Range Resources by 114.9% during the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock worth $81,299,000 after buying an additional 1,422,200 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Range Resources by 61.9% during 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 purchasing an additional 604,199 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in Range Resources in the third quarter valued at approximately $11,508,000. Verition Fund Management LLC increased its position in shares of Range Resources by 379.3% during the 3rd quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock worth $12,594,000 after purchasing an additional 324,011 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Range Resources by 853.0% during the 3rd quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock worth $6,106,000 after purchasing an additional 177,689 shares in the last quarter. Institutional investors 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.