Range Resources (NYSE:RRC) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Range Resources (NYSE:RRC - Free Report) from a peer perform rating to an outperform rating in a report published on Friday, Marketbeat reports. The firm currently has $42.00 target price on the oil and gas exploration company's stock.

A number of other research analysts also recently commented on the company. Piper Sandler reduced their price target on Range Resources from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Monday, November 18th. The Goldman Sachs Group dropped their price target on Range Resources from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Citigroup lifted their price objective on shares of Range Resources from $33.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Bank of America initiated coverage on Range Resources in a research report on Monday, October 28th. They set a "neutral" rating and a $34.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Range Resources from $35.00 to $40.00 and gave the company a "sector perform" rating in a report on Monday, November 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $36.32.

Range Resources Stock Down 0.4 %

Shares of RRC traded down $0.14 during midday trading on Friday, reaching $35.91. 3,511,009 shares of the company were exchanged, compared to its average volume of 3,363,055. The stock has a 50-day moving average price of $34.13 and a 200-day moving average price of $32.26. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 18.14 and a beta of 1.85. The company has a current ratio of 0.54, a quick 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 $39.33.

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

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.89%. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

Insider Transactions at Range Resources

In other news, Director Charles G. Griffie acquired 1,275 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RRC. M&T Bank Corp grew its stake in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after buying an additional 327 shares in the last quarter. CIBC Asset Management Inc grew its position in Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company's stock worth $228,000 after acquiring an additional 350 shares in the last quarter. Commerce Bank increased its stake in shares of Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock worth $211,000 after purchasing an additional 369 shares during the last quarter. Inscription Capital LLC raised its holdings in shares of Range Resources by 3.6% during the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company's stock valued at $386,000 after purchasing an additional 433 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Range Resources by 42.8% during 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. 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.