Range Resources (NYSE:RRC) Given New $47.00 Price Target at Mizuho

Range Resources (NYSE:RRC - Free Report) had its price objective upped by Mizuho from $40.00 to $47.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the oil and gas exploration company's stock.

Other equities analysts have also recently issued research reports about the company. Stephens lifted their price objective on Range Resources from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of Range Resources from $37.00 to $31.00 and set an "underweight" rating on the stock in a research note on Thursday, September 12th. Wells Fargo & Company lowered their price objective on shares of Range Resources from $39.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. UBS Group raised shares of Range Resources from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $28.00 to $35.00 in a research report on Monday, December 9th. Finally, Susquehanna lowered their target price on Range Resources from $36.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $35.89.

Range Resources Trading Down 2.2 %

Shares of Range Resources stock traded down $0.77 during trading on Monday, reaching $34.58. 1,348,364 shares of the company were exchanged, compared to its average volume of 2,326,188. Range Resources has a twelve month low of $27.29 and a twelve month high of $39.33. The business has a 50-day moving average price of $32.92 and a 200-day moving average price of $32.38. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 17.52 and a beta of 1.85.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. During the same period in the prior year, the business posted $0.43 EPS. Range Resources's revenue was up .9% on a year-over-year basis. Sell-side analysts anticipate that Range Resources will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of the company's stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares of the company's stock, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently bought and sold shares of the stock. HITE Hedge Asset Management LLC bought a new stake in shares of Range Resources in the third quarter valued at about $11,508,000. Charles Schwab Investment Management Inc. boosted its holdings in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company's stock valued at $62,065,000 after purchasing an additional 92,217 shares during the period. Aptus Capital Advisors LLC boosted its holdings in Range Resources by 135.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company's stock valued at $3,445,000 after purchasing an additional 64,443 shares during the period. HighTower Advisors LLC grew its position in shares of Range Resources by 59.9% during the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company's stock worth $4,045,000 after purchasing an additional 49,276 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Range Resources by 32.5% during the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company's stock worth $2,025,000 after purchasing an additional 16,134 shares during the period. 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.