Range Resources (NYSE:RRC) Price Target Cut to $36.00 by Analysts at Susquehanna

Range Resources (NYSE:RRC) had its target price cut by Susquehanna from $40.00 to $36.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Other research analysts also recently issued reports about the stock. Stephens set a $51.00 target price on shares of Range Resources and gave the company an “overweight” rating in a research report on Thursday, April 3rd. StockNews.com cut Range Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, April 15th. Piper Sandler reduced their target price on Range Resources from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday. Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, UBS Group reduced their price objective on Range Resources from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.62.

Range Resources Stock Up 1.7 %

Shares of NYSE RRC opened at $33.18 on Tuesday. The business has a 50-day moving average of $36.99 and a two-hundred day moving average of $35.70. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. boosted its holdings in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in Range Resources during the fourth quarter worth about $42,000. Geneos Wealth Management Inc. purchased a new position in Range Resources in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc lifted its position 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 acquiring an additional 463 shares during the period. Institutional investors and hedge funds 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.