Mizuho Reiterates Buy Rating for Range Resources (NYSE:RRC)

Mizuho reissued their buy rating on shares of Range Resources (NYSE:RRC) in a report issued on Friday, Benzinga reports. The firm currently has a $41.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $39.00.

A number of other research analysts have also recently commented on RRC. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a report on Friday, April 5th. Stephens raised their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Piper Sandler lifted their price target on shares of Range Resources from $40.00 to $41.00 and gave the company an overweight rating in a research note on Friday, April 19th. Royal Bank of Canada cut Range Resources from an outperform rating to a sector perform rating and increased their price objective for the stock from $36.00 to $39.00 in a research note on Friday. Finally, Morgan Stanley lifted their target price on Range Resources from $23.00 to $33.00 and gave the company an underweight rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $36.65.

Range Resources Stock Up 0.1 %

Shares of NYSE:RRC opened at $37.36 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $32.42. Range Resources has a 1 year low of $23.92 and a 1 year high of $38.25. The firm has a market capitalization of $9.06 billion, a PE ratio of 18.96 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the business earned $0.96 EPS. Range Resources’s revenue was down 15.7% compared to the same quarter last year. On average, equities analysts predict that Range Resources will post 2 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is currently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Trading of Range Resources

Several large investors have recently added to or reduced their stakes in RRC. Allspring Global Investments Holdings LLC boosted its position in Range Resources by 191.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,081 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 9,243 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Range Resources by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 908,250 shares of the oil and gas exploration company’s stock valued at $31,271,000 after acquiring an additional 22,764 shares during the period. SYSTM Wealth Solutions LLC boosted its holdings in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Range Resources in the first quarter worth $620,000. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Range Resources by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 69,400 shares of the oil and gas exploration company’s stock worth $2,389,000 after purchasing an additional 1,600 shares during 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.