Truist Financial Issues Positive Forecast for Range Resources (NYSE:RRC) Stock Price

Range Resources (NYSE:RRC - Free Report) had its price objective increased by Truist Financial from $31.00 to $35.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the oil and gas exploration company's stock.

RRC has been the topic of a number of other research reports. Royal Bank of Canada upped their target price on shares of Range Resources from $35.00 to $40.00 and gave the company a "sector perform" rating in a research report on Monday, November 25th. Barclays upgraded shares of Range Resources from an "underweight" rating to an "equal weight" rating and decreased their price objective for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Mizuho lifted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Wolfe Research upgraded Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Finally, Bank of America upgraded Range Resources from a "neutral" rating to a "buy" rating and raised their price target for the stock from $34.00 to $45.00 in a research report on Monday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.16.

Range Resources Price Performance

RRC stock traded up $0.25 during midday trading on Monday, reaching $38.42. The stock had a trading volume of 2,357,653 shares, compared to its average volume of 2,918,522. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The company's fifty day simple moving average is $34.96 and its 200 day simple moving average is $32.38. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 19.40 and a beta of 1.81.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.16. The company had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. Range Resources's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. As a group, sell-side analysts predict that Range Resources will post 1.91 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, December 13th. Range Resources's dividend payout ratio (DPR) is 16.16%.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Range Resources by 36.4% during the fourth quarter. GAMMA Investing LLC now owns 4,391 shares of the oil and gas exploration company's stock valued at $158,000 after acquiring an additional 1,172 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after purchasing an additional 463 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 604,199 shares during the last quarter. Forthright Family Wealth Advisory LLC purchased a new stake in shares of Range Resources during the third quarter worth about $445,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Range Resources during the third quarter worth about $205,000. Hedge funds and other institutional investors 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.