Range Resources (NYSE:RRC) Given New $42.00 Price Target at Stephens

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

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reissued an outperform rating and set a $36.00 target price on shares of Range Resources in a report on Tuesday, April 9th. Piper Sandler upped their price objective 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. Mizuho reaffirmed a buy rating and issued a $39.00 price objective on shares of Range Resources in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Range Resources from $23.00 to $33.00 and gave the company an underweight rating in a research note on Wednesday, April 17th. Finally, Benchmark lowered shares of Range Resources from a buy rating to a hold rating in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Range Resources presently has an average rating of Hold and a consensus price target of $36.40.

Range Resources Trading Up 3.3 %

RRC opened at $37.77 on Wednesday. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $37.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 19.17 and a beta of 1.83. The company’s 50 day moving average price is $33.52 and its two-hundred day moving average price is $32.37.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share 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 firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same period in the previous year, the firm posted $0.96 EPS. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, research analysts predict that Range Resources will post 1.99 earnings per share for the current year.

Range Resources Dividend Announcement

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

Institutional Trading of Range Resources

A number of large investors have recently added to or reduced their stakes in the stock. Orser Capital Management LLC increased its holdings in Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after buying an additional 427 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock worth $317,000 after buying an additional 431 shares during the last quarter. Fifth Third Bancorp increased its holdings in Range Resources by 57.7% during the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock worth $43,000 after buying an additional 490 shares during the last quarter. Lmcg Investments LLC increased its holdings in Range Resources by 0.4% during the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock worth $4,695,000 after buying an additional 546 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Range Resources by 2.0% during the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock worth $888,000 after buying an additional 579 shares during 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.