Stephens Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC - Free Report) had its price target hoisted by Stephens from $39.00 to $43.00 in a research report released on Wednesday,Benzinga reports. Stephens currently has an overweight rating on the oil and gas exploration company's stock.

Several other equities analysts also recently weighed in on RRC. Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Friday, January 17th. Piper Sandler lifted their price target on shares of Range Resources from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Range Resources from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of "Hold" and a consensus target price of $38.00.

Range Resources Price Performance

NYSE:RRC traded down $0.07 during trading hours on Wednesday, hitting $37.52. 2,236,033 shares of the stock traded hands, compared to its average volume of 2,807,581. 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 has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.95 and a beta of 1.81. The stock has a 50 day moving average price of $36.47 and a 200 day moving average price of $32.89.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources's dividend payout ratio (DPR) is 16.16%.

Institutional Trading of Range Resources

A number of large investors have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV lifted its stake in Range Resources by 30.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 21,431 shares of the oil and gas exploration company's stock worth $771,000 after acquiring an additional 5,001 shares during the period. Rhumbline Advisers lifted its stake in Range Resources by 1.6% in the fourth quarter. Rhumbline Advisers now owns 663,320 shares of the oil and gas exploration company's stock worth $23,866,000 after acquiring an additional 10,401 shares during the period. PUREfi Wealth LLC purchased a new stake in Range Resources in the fourth quarter worth about $270,000. Blue Trust Inc. lifted its stake in Range Resources by 105.2% in the fourth quarter. Blue Trust Inc. now owns 2,788 shares of the oil and gas exploration company's stock worth $100,000 after acquiring an additional 1,429 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Range Resources by 13.5% in the fourth quarter. Van ECK Associates Corp now owns 173,863 shares of the oil and gas exploration company's stock worth $6,256,000 after acquiring an additional 20,744 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.