Range Resources (NYSE:RRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC - Free Report) from a sell rating to a hold rating in a report issued on Thursday morning.

RRC has been the subject of several other reports. Scotiabank cut Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. The Goldman Sachs Group lifted their price objective on Range Resources from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Finally, Truist Financial raised their target price on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $41.60.

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Range Resources Stock Performance

Shares of Range Resources stock traded up $0.84 during midday trading on Thursday, hitting $40.03. The company had a trading volume of 859,279 shares, compared to its average volume of 2,346,296. The company has a fifty day simple moving average of $38.52 and a 200 day simple moving average of $35.22. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 5.11 and a beta of 1.80. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $626.42 million during the quarter, compared to analysts' expectations of $676.53 million. During the same period last year, the business posted $0.63 earnings per share. 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. Range Resources's payout ratio is presently 32.73%.

Institutional Investors Weigh In On Range Resources

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in shares of Range Resources during the fourth quarter worth approximately $33,684,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Range Resources by 23.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company's stock valued at $327,000 after purchasing an additional 1,756 shares during the period. Forum Financial Management LP raised its holdings in Range Resources by 19.1% during the fourth quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company's stock worth $289,000 after purchasing an additional 1,293 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $2,645,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Range Resources during the 4th quarter worth $3,001,000. 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.