Range Resources (NYSE:RRC) PT Lowered to $45.00

Range Resources (NYSE:RRC) had its price objective decreased by Mizuho from $47.00 to $45.00 in a research note published on Monday morning, Benzinga reports. Mizuho currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other brokerages have also recently commented on RRC. Royal Bank of Canada reaffirmed a sector perform rating and set a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Piper Sandler lowered Range Resources from an overweight rating to a neutral rating and decreased their target price for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Jefferies Financial Group increased their target price on Range Resources from $34.00 to $35.00 and gave the company a hold rating in a research report on Monday, July 8th. The Goldman Sachs Group decreased their target price on Range Resources from $40.00 to $35.00 and set a neutral rating on the stock in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. decreased their target price on Range Resources from $37.00 to $31.00 and set an underweight rating on the stock in a research report on Thursday, September 12th. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $36.10.

Range Resources Price Performance

Shares of NYSE RRC opened at $30.51 on Monday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 15.49 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The firm’s 50 day simple moving average is $30.56 and its 200-day simple moving average is $33.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Analysts expect that Range Resources will post 2.07 EPS for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.05%. Range Resources’s dividend payout ratio is presently 16.24%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RRC. Jump Financial LLC raised its holdings in shares of Range Resources by 57.4% during the 4th quarter. Jump Financial LLC now owns 24,941 shares of the oil and gas exploration company’s stock worth $759,000 after acquiring an additional 9,096 shares during the period. Congress Wealth Management LLC DE increased its position in shares of Range Resources by 2.5% during the 4th quarter. Congress Wealth Management LLC DE now owns 47,903 shares of the oil and gas exploration company’s stock worth $1,458,000 after purchasing an additional 1,184 shares during the last quarter. Contrarius Investment Management Ltd acquired a new stake in shares of Range Resources during the 4th quarter worth about $3,063,000. United Services Automobile Association increased its position in shares of Range Resources by 14.4% during the 4th quarter. United Services Automobile Association now owns 19,525 shares of the oil and gas exploration company’s stock worth $594,000 after purchasing an additional 2,452 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Range Resources by 177.7% during the 4th quarter. TD Asset Management Inc now owns 692,722 shares of the oil and gas exploration company’s stock worth $21,086,000 after purchasing an additional 443,298 shares during the last quarter. Hedge funds and other institutional investors 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.