Range Resources (NYSE:RRC) Given New $37.00 Price Target at Truist Financial

Range Resources (NYSE:RRC) had its price objective increased by Truist Financial from $35.00 to $37.00 in a report issued on Monday,Benzinga reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other research reports. Stephens lifted their price objective on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Williams Trading set a $40.00 price target on Range Resources in a report on Wednesday, March 5th. UBS Group raised their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Finally, StockNews.com downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Three 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 stock. According to data from MarketBeat.com, Range Resources has an average rating of “Hold” and an average target price of $39.95.

Range Resources Price Performance

NYSE RRC opened at $38.88 on Monday. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 5.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s fifty day moving average price is $38.35 and its 200 day moving average price is $34.51. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm 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 period last year, the business posted $0.63 earnings per share. As a group, equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Range Resources by 32.5% in the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after purchasing an additional 16,134 shares during the period. KBC Group NV boosted its holdings in Range Resources by 11.5% in the 3rd quarter. KBC Group NV now owns 6,696 shares of the oil and gas exploration company’s stock valued at $206,000 after purchasing an additional 688 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Range Resources by 11.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 54,718 shares of the oil and gas exploration company’s stock valued at $1,683,000 after buying an additional 5,517 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Range Resources by 3.7% during the 3rd quarter. Pathstone Holdings LLC now owns 89,683 shares of the oil and gas exploration company’s stock worth $2,759,000 after buying an additional 3,238 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Range Resources by 62.6% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 298,988 shares of the oil and gas exploration company’s stock valued at $9,197,000 after buying an additional 115,142 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.