Range Resources (NYSE:RRC) Given New $36.00 Price Target at Susquehanna

Range Resources (NYSE:RRC - Free Report) had its target price lowered by Susquehanna from $40.00 to $36.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage 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 company. Royal Bank of Canada restated a "sector perform" rating and set a $42.00 target price on shares of Range Resources in a report on Friday, April 11th. Truist Financial lifted their price objective on shares of Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised shares of Range Resources from an "underweight" rating to a "neutral" rating and upped their target price for the company from $43.00 to $45.00 in a research note on Thursday, March 13th. Roth Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Range Resources from a "hold" rating to a "sell" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.50.

Range Resources Price Performance

Shares of NYSE RRC traded up $0.77 during trading on Tuesday, reaching $34.63. The company had a trading volume of 480,450 shares, compared to its average volume of 2,991,143. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The business's 50 day moving average price is $36.81 and its 200-day moving average price is $35.70. The stock has a market cap of $8.36 billion, a PE ratio of 17.50, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $676.53 million. During the same quarter in the prior year, the business earned $0.63 EPS. Analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is currently 32.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its position 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 worth $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP acquired a new position in Range Resources during the fourth quarter valued at approximately $33,684,000. Amundi raised its holdings in shares of Range Resources by 233.2% during the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock worth $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after purchasing an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp increased its position in Range Resources by 37.1% during the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after purchasing an additional 605,315 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

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.