Range Resources (NYSE:RRC) Price Target Raised to $41.00 at UBS Group

Range Resources (NYSE:RRC) had its price target boosted by UBS Group from $39.00 to $41.00 in a report released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other research analysts also recently weighed in on the stock. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $45.00 in a research 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. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, Truist Financial boosted their price target on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Range Resources currently has an average rating of “Hold” and a consensus price target of $38.78.

Range Resources Price Performance

Shares of NYSE:RRC opened at $38.80 on Thursday. The business has a 50-day simple moving average of $37.08 and a two-hundred day simple moving average of $33.28. 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 firm has a market cap of $9.36 billion, a price-to-earnings ratio of 19.60 and a beta of 1.77. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Hedge Funds Weigh In On Range Resources

Several large investors have recently made changes to their positions in RRC. Mariner LLC raised its stake in Range Resources by 6.1% during the 4th quarter. Mariner LLC now owns 16,575 shares of the oil and gas exploration company’s stock valued at $596,000 after purchasing an additional 960 shares during the period. Townsquare Capital LLC grew its holdings in Range Resources by 12.8% during the 4th quarter. Townsquare Capital LLC now owns 88,477 shares of the oil and gas exploration company’s stock valued at $3,183,000 after buying an additional 10,022 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Range Resources by 5.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 56,678 shares of the oil and gas exploration company’s stock valued at $2,039,000 after buying an additional 3,041 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Range Resources by 55.4% in the fourth quarter. Sterling Capital Management LLC now owns 14,051 shares of the oil and gas exploration company’s stock worth $506,000 after buying an additional 5,012 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Range Resources by 41.3% in the fourth quarter. Kennedy Capital Management LLC now owns 525,155 shares of the oil and gas exploration company’s stock worth $18,895,000 after buying an additional 153,435 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.