UBS Group Has Lowered Expectations for Range Resources (NYSE:RRC) Stock Price

Range Resources (NYSE:RRC - Free Report) had its price objective decreased by UBS Group from $41.00 to $36.00 in a report published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas exploration company's stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Stephens set a $51.00 target price on shares of Range Resources and gave the stock an "overweight" rating in a report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, March 17th. Finally, Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $34.00 to $45.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $41.81.

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Range Resources Stock Up 3.3 %

Shares of RRC traded up $1.06 during mid-day trading on Monday, hitting $33.31. 3,499,772 shares of the company traded hands, compared to its average volume of 2,426,979. The business has a 50 day moving average of $37.70 and a 200 day moving average of $35.58. The company has a market capitalization of $8.04 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 17.63% and a return on equity of 13.69%. During the same quarter last year, the company posted $0.63 earnings per share. Equities research analysts anticipate that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is currently 32.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RRC. LPL Financial LLC increased its position in shares of Range Resources by 23.2% in the 4th quarter. LPL Financial LLC now owns 113,800 shares of the oil and gas exploration company's stock valued at $4,095,000 after purchasing an additional 21,440 shares during the last quarter. JPMorgan Chase & Co. raised its stake in 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 valued at $48,588,000 after buying an additional 604,199 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Range Resources during the 4th quarter worth about $380,000. Calamos Advisors LLC purchased a new position in shares of Range Resources in the 4th quarter valued at about $567,000. Finally, Radnor Capital Management LLC raised its position in shares of Range Resources by 156.2% during the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock worth $1,547,000 after acquiring an additional 26,213 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.