Truist Financial Issues Positive Forecast for Range Resources (NYSE:RRC) Stock Price

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

Other analysts also recently issued research reports about the stock. Wolfe Research raised shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. Bank of America raised shares of 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 report on Monday, January 13th. UBS Group raised their target price on Range Resources from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup downgraded Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Stephens raised their price objective on Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus target price of $39.95.

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Range Resources Stock Up 2.2 %

Range Resources stock traded up $0.86 during trading hours on Monday, reaching $40.50. The stock had a trading volume of 987,537 shares, compared to its average volume of 2,291,725. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 5.11 and a beta of 1.80. The business's 50 day moving average price is $38.41 and its 200-day moving average price is $34.58. 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 current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side 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 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 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Range Resources's previous quarterly dividend of $0.08. Range Resources's payout ratio is currently 32.73%.

Institutional Trading of Range Resources

Several institutional investors have recently bought and sold shares of RRC. Brooklyn Investment Group acquired a new position in shares of Range Resources during the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% during 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 stake in shares of Range Resources in the fourth quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the fourth quarter worth about $46,000. 98.93% of the stock is 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.