Range Resources (NYSE:RRC) Price Target Raised to $35.00 at Truist Financial

Range Resources (NYSE:RRC) had its price target hoisted by Truist Financial from $31.00 to $35.00 in a research note published on Monday,Benzinga reports. They currently have a hold rating on the oil and gas exploration company’s stock.

Several other 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 lifted their price objective for the company from $34.00 to $45.00 in a research report on Monday. Morgan Stanley decreased their target price on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Piper Sandler decreased their price target on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, January 3rd. Finally, Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Range Resources has an average rating of “Hold” and a consensus price target of $37.16.

Range Resources Stock Performance

Shares of Range Resources stock opened at $38.42 on Monday. The firm’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $32.38. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33. The firm has a market cap of $9.27 billion, a PE ratio of 19.40 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.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the prior year, the company earned $0.43 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Range Resources will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.83%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Insider Activity

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

A number of large investors have recently bought and sold shares of RRC. GAMMA Investing LLC increased its holdings in Range Resources by 36.4% during the 4th quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company’s stock worth $158,000 after purchasing an additional 1,172 shares in the last quarter. Versant Capital Management Inc raised its position in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Range Resources by 61.9% in the third quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock worth $48,588,000 after buying an additional 604,199 shares during the period. Forthright Family Wealth Advisory LLC bought a new position in Range Resources in the third quarter worth $445,000. Finally, Sanctuary Advisors LLC purchased a new position in Range Resources during the third quarter valued at $205,000. 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.