Range Resources (NYSE:RRC) Price Target Raised to $33.00 at Piper Sandler

Range Resources (NYSE:RRC - Free Report) had its price target boosted by Piper Sandler from $32.00 to $33.00 in a research note released on Thursday morning, MarketBeat reports. Piper Sandler currently has a neutral rating on the oil and gas exploration company's stock.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Range Resources from a "sell" rating to a "hold" rating in a research note on Thursday, February 27th. UBS Group raised their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $40.00 price objective on shares of Range Resources in a report on Tuesday, January 14th. Citigroup raised their target price on Range Resources from $33.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, Barclays set a $43.00 price target on Range Resources and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.11.

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Range Resources Stock Performance

Shares of NYSE RRC traded up $1.29 during mid-day trading on Thursday, hitting $36.51. The company had a trading volume of 2,878,487 shares, compared to its average volume of 2,315,010. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a market cap of $8.81 billion, a P/E ratio of 18.44, a PEG ratio of 5.11 and a beta of 1.80. The business's 50-day simple moving average is $38.17 and its 200-day simple moving average is $34.23. 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 announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate 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 company earned $0.63 EPS. As a group, analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. 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 dividend payout ratio is 32.73%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRC. JPMorgan Chase & Co. grew its position in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after buying an additional 604,199 shares during the period. HITE Hedge Asset Management LLC acquired a new stake in Range Resources during the 3rd quarter worth $11,508,000. Calamos Advisors LLC bought a new stake in shares of Range Resources during the 4th quarter valued at $567,000. Radnor Capital Management LLC lifted its stake in shares of Range Resources by 156.2% in the 4th quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company's stock valued at $1,547,000 after purchasing an additional 26,213 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $62,065,000 after purchasing an additional 92,217 shares during the last quarter. 98.93% of the stock is owned by 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.