Range Resources (NYSE:RRC) PT Raised to $34.00 at Jefferies Financial Group

Range Resources (NYSE:RRC) had its price target hoisted by Jefferies Financial Group from $32.00 to $34.00 in a report released on Thursday, Benzinga reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other equities research analysts have also recently issued reports on RRC. Benchmark restated a hold rating on shares of Range Resources in a research report on Wednesday, April 24th. Susquehanna lifted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a neutral rating in a research report on Monday, April 22nd. Piper Sandler increased their price objective on Range Resources from $41.00 to $43.00 and gave the stock an overweight rating in a research report on Tuesday. Raymond James reduced their target price 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. Finally, Truist Financial decreased their price target on Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $36.62.

Range Resources Trading Up 2.1 %

Shares of Range Resources stock opened at $35.71 on Thursday. Range Resources has a 1-year low of $23.92 and a 1-year high of $38.25. 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 stock has a market cap of $8.66 billion, a P/E ratio of 18.13 and a beta of 1.85. The stock’s 50 day simple moving average is $34.23 and its 200-day simple moving average is $32.46.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.96 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. Analysts predict that Range Resources will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.57% of the company’s stock.

Institutional Trading of Range Resources

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Range Resources by 90.2% in the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock valued at $257,000 after purchasing an additional 3,766 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Range Resources by 46.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company’s stock worth $760,000 after buying an additional 7,405 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Range Resources by 78.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company’s stock valued at $927,000 after acquiring an additional 12,617 shares during the period. Foster & Motley Inc. raised its stake in Range Resources by 7.5% during the 3rd quarter. Foster & Motley Inc. now owns 12,965 shares of the oil and gas exploration company’s stock valued at $420,000 after acquiring an additional 900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Range Resources by 17.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,076 shares of the oil and gas exploration company’s stock worth $1,623,000 after acquiring an additional 7,509 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.