Roth Capital Upgrades Range Resources (NYSE:RRC) to Strong-Buy

Roth Capital upgraded shares of Range Resources (NYSE:RRC - Free Report) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research firms also recently issued reports on RRC. StockNews.com raised Range Resources from a "sell" rating to a "hold" rating in a research report on Saturday, April 5th. Benchmark reiterated a "hold" rating on shares of Range Resources in a research report on Friday, January 17th. Wells Fargo & Company raised their price target on Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Piper Sandler boosted their price objective on Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $41.81.

Range Resources Stock Up 0.3 %

NYSE RRC traded up $0.09 during trading hours on Tuesday, hitting $33.48. The company's stock had a trading volume of 466,204 shares, compared to its average volume of 2,419,779. The company has a market capitalization of $8.08 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. 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 has a 52 week low of $27.29 and a 52 week high of $41.95. The company's 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $35.62.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Research analysts anticipate that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This is a boost from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. Range Resources's payout ratio is presently 32.73%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RRC. Boston Partners increased its holdings in Range Resources by 4.9% during the fourth quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after buying an additional 371,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after purchasing an additional 624,955 shares during the period. Lingotto Investment Management LLP increased its stake in shares of Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after purchasing an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after acquiring an additional 2,104,304 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Range Resources by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock worth $123,174,000 after purchasing an additional 35,344 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.