Range Resources (NYSE:RRC) Receives “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of Range Resources (NYSE:RRC) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $49.00 target price on the oil and gas exploration company’s stock.

Several other brokerages also recently weighed in on RRC. Citigroup downgraded shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. UBS Group cut their price target on Range Resources from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group increased their price objective on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Finally, Susquehanna decreased their price target on Range Resources from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.45.

Range Resources Trading Up 2.3 %

NYSE RRC opened at $34.07 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a 50-day simple moving average of $36.90 and a 200-day simple moving average of $35.68. The firm has a market capitalization of $8.22 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

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

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently made changes to their positions in the business. Bessemer Group Inc. grew its position in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 valued at $37,000 after buying an additional 471 shares during the period. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Range Resources in the fourth quarter worth $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources during the fourth quarter worth $46,000. Institutional investors and hedge funds 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.