Range Resources (NYSE:RRC) Price Target Raised to $42.00

Range Resources (NYSE:RRC) had its target price increased by Stephens from $41.00 to $42.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the oil and gas exploration company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Raymond James decreased their target price on shares of Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Scotiabank cut shares of Range Resources from a sector outperform rating to a sector perform rating and raised their target price for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Morgan Stanley raised their target price on shares of Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research note on Wednesday, April 17th. Piper Sandler raised their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Finally, Truist Financial cut their price objective on shares of Range Resources from $32.00 to $30.00 and set a hold rating for the company in a report on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $36.40.

Range Resources Price Performance

Shares of NYSE:RRC opened at $37.77 on Wednesday. The firm’s 50 day moving average price is $33.52 and its 200-day moving average price is $32.37. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.89. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.14 billion, a PE ratio of 19.17 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The company had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the business earned $0.96 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year. Equities research analysts expect that Range Resources will post 1.99 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources’s payout ratio is currently 16.24%.

Institutional Investors Weigh In On Range Resources

A number of large investors have recently modified their holdings of the business. Boston Partners lifted its holdings in Range Resources by 1,858.7% in the fourth quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after acquiring an additional 6,070,900 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Range Resources by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock worth $180,568,000 after purchasing an additional 90,028 shares during the period. Invesco Ltd. lifted its stake in Range Resources by 22.4% during the 3rd quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock worth $123,049,000 after acquiring an additional 693,970 shares in the last quarter. Kopernik Global Investors LLC lifted its stake in Range Resources by 2.7% during the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock worth $94,562,000 after acquiring an additional 82,095 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Range Resources by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock worth $54,208,000 after acquiring an additional 64,810 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.