Range Resources (NYSE:RRC) Price Target Raised to $43.00

Range Resources (NYSE:RRC - Free Report) had its price target increased by The Goldman Sachs Group from $39.00 to $43.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company's stock.

A number of other brokerages have also recently issued reports on RRC. Piper Sandler upped their target price on Range Resources from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Stephens lifted their target price on shares of Range Resources from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. UBS Group upgraded shares of Range Resources from a "sell" rating to a "neutral" rating and increased their price target for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Citigroup lifted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Finally, Barclays raised their price target on Range Resources from $34.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. 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 company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $38.78.

Range Resources Stock Down 0.3 %

Shares of NYSE RRC traded down $0.12 during mid-day trading on Wednesday, reaching $38.68. The company had a trading volume of 2,199,815 shares, compared to its average volume of 2,545,791. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The stock has a market cap of $9.33 billion, a P/E ratio of 19.54 and a beta of 1.77. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $37.17 and a two-hundred day simple moving average of $33.34.

Range Resources Dividend Announcement

The firm also recently announced 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 currently 16.16%.

Institutional Trading of Range Resources

Several large investors have recently modified their holdings of RRC. M&T Bank Corp grew its holdings in Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after buying an additional 327 shares during the last quarter. Commerce Bank raised its holdings in shares of Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock valued at $211,000 after buying an additional 369 shares during the period. CIBC Asset Management Inc lifted its position in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock worth $268,000 after acquiring an additional 378 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Range Resources by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after purchasing an additional 379 shares during the period. Finally, King Luther Capital Management Corp grew its stake in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares in the last quarter. 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.