Range Resources (NYSE:RRC) Price Target Lowered to $45.00 at Mizuho

Range Resources (NYSE:RRC) had its target price lowered by Mizuho from $47.00 to $45.00 in a research report report published on Monday morning, Benzinga reports. Mizuho currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other equities analysts have also commented on the stock. Benchmark restated a hold rating on shares of Range Resources in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their price target on shares of Range Resources from $34.00 to $35.00 and gave the company a hold rating in a research report on Monday, July 8th. Wolfe Research began coverage on Range Resources in a research report on Thursday, July 18th. They issued a peer perform rating on the stock. Royal Bank of Canada reissued a sector perform rating and set a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their target price on Range Resources from $40.00 to $35.00 and set a neutral rating on the stock in a research note on Friday, September 6th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $36.58.

Range Resources Trading Up 1.7 %

Shares of RRC stock opened at $29.52 on Monday. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 14.98 and a beta of 1.80. The company’s fifty day simple moving average is $30.71 and its two-hundred day simple moving average is $33.56. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Range Resources will post 2.07 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Institutional Trading of Range Resources

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Range Resources in the 2nd quarter worth about $78,223,000. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares during the last quarter. Herr Investment Group LLC raised its stake in Range Resources by 4,594.4% during the first quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after buying an additional 487,011 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Range Resources by 177.7% in the 4th quarter. TD Asset Management Inc now owns 692,722 shares of the oil and gas exploration company’s stock worth $21,086,000 after purchasing an additional 443,298 shares during the last quarter. Hedge funds and other 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.