Range Resources (NYSE:RRC) Price Target Raised to $33.00

Range Resources (NYSE:RRC) had its price objective increased by Piper Sandler from $32.00 to $33.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Several other brokerages have also recently commented on RRC. StockNews.com raised Range Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 27th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Truist Financial boosted their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company boosted their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group boosted their target price on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. 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. Based on data from MarketBeat.com, Range Resources has a consensus rating of “Hold” and a consensus target price of $39.06.

Range Resources Trading Down 0.3 %

Shares of NYSE RRC opened at $35.27 on Thursday. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 5.11 and a beta of 1.80. The business has a 50 day simple moving average of $38.17 and a 200 day simple moving average of $34.16. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the business posted $0.63 EPS. On average, research analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio is presently 32.73%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Range Resources in the third quarter valued at $25,000. Smartleaf Asset Management LLC raised its stake in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Range Resources in the fourth quarter valued at $42,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter valued at $46,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.