Range Resources (NYSE:RRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC) from a sell rating to a hold rating in a research note released on Thursday morning.

Several other equities analysts have also commented on the stock. The Goldman Sachs Group upped their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Benchmark reiterated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, January 3rd. Stephens raised their target price on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler boosted their price target on shares of Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.89.

Range Resources Stock Performance

Shares of RRC stock opened at $39.19 on Thursday. The company’s fifty day moving average price is $38.52 and its two-hundred day moving average price is $35.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $9.46 billion, a P/E ratio of 19.79, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 32.73%.

Institutional Trading of Range Resources

Large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in shares of Range Resources in the 3rd quarter valued at $25,000. Smartleaf Asset Management LLC lifted its position in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares during the last quarter. UMB Bank n.a. lifted its holdings in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. Headlands Technologies LLC bought a new stake in Range Resources during the fourth quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. acquired a new position in Range Resources during the fourth quarter valued at approximately $46,000. 98.93% of the stock is owned by institutional investors.

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.