Range Resources (NYSE:RRC) Given New $43.00 Price Target at Piper Sandler

Range Resources (NYSE:RRC) had its price target raised by Piper Sandler from $41.00 to $43.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the oil and gas exploration company’s stock.

A number of other analysts have also recently commented on the company. Barclays initiated coverage on Range Resources in a research report on Wednesday, April 10th. They set an underweight rating and a $35.00 target price on the stock. Morgan Stanley boosted their price target on Range Resources from $23.00 to $33.00 and gave the company an underweight rating in a research report on Wednesday, April 17th. Mizuho restated a buy rating and issued a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research report on Friday, April 26th. Benchmark restated a hold rating on shares of Range Resources in a research report on Wednesday, April 24th. Finally, Raymond James dropped their price target on Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $36.75.

Range Resources Stock Down 3.9 %

RRC opened at $35.91 on Tuesday. The business’s 50-day simple moving average is $33.94 and its 200-day simple moving average is $32.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. Range Resources has a one year low of $23.92 and a one year high of $38.25. The stock has a market capitalization of $8.71 billion, a P/E ratio of 18.23 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted 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 return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was down 15.7% compared to the same quarter last year. Analysts anticipate that Range Resources will post 2 EPS for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Transactions at Range Resources

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

Institutional Investors Weigh In On Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raleigh Capital Management Inc. purchased a new stake in Range Resources in the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its stake in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources in the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after buying an additional 490 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.