Range Resources (NYSE:RRC - Free Report) had its price target lifted by Truist Financial from $35.00 to $37.00 in a research note released on Monday,Benzinga reports. They currently have a hold rating on the oil and gas exploration company's stock.
Other equities analysts have also issued research reports about the company. Wells Fargo & Company lifted their price target on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and lifted their price target for the company from $34.00 to $45.00 in a research note on Monday, January 13th. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, December 16th. Stephens lifted their price target on Range Resources from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, 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. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $39.95.
Get Our Latest Analysis on Range Resources
Range Resources Stock Performance
Shares of NYSE RRC traded up $0.65 during trading on Monday, reaching $39.62. 2,278,027 shares of the company traded hands, compared to its average volume of 2,296,994. The firm's fifty day simple moving average is $38.41 and its 200 day simple moving average is $34.58. The stock has a market cap of $9.56 billion, a P/E ratio of 20.01, a PEG ratio of 5.11 and a beta of 1.80. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.
Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.63 EPS. As a group, research analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.
Range Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Range Resources's dividend payout ratio is currently 32.73%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in Range Resources in the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its position in 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 during the period. UMB Bank n.a. raised its position in 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 during the period. Headlands Technologies LLC purchased a new stake in Range Resources in the fourth quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Range Resources in the fourth quarter valued at approximately $46,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.
About Range Resources
(
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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.
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