Range Resources’ (RRC) “Buy” Rating Reaffirmed at Mizuho

Mizuho reissued their buy rating on shares of Range Resources (NYSE:RRC) in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a $39.00 target price on the oil and gas exploration company’s stock.

A number of other research firms have also commented on RRC. Raymond James reduced their price target on shares of Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company cut shares of Range Resources from an overweight rating to an equal weight rating and lowered their price target for the stock from $40.00 to $32.00 in a research report on Thursday, December 14th. Citigroup increased their price objective on shares of Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an outperform rating and set a $36.00 target price on shares of Range Resources in a report on Tuesday. Finally, Barclays began coverage on Range Resources in a research note on Wednesday. They issued an underweight rating and a $35.00 price target on the stock. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $35.25.

Range Resources Stock Down 0.8 %

NYSE RRC opened at $36.03 on Thursday. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $8.72 billion, a PE ratio of 10.18 and a beta of 1.83. The firm has a 50-day simple moving average of $32.21 and a 200 day simple moving average of $32.10.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. The company had revenue of $941.40 million during the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company’s quarterly revenue was down 42.3% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. On average, research analysts forecast that Range Resources will post 1.92 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s payout ratio is presently 9.04%.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently bought and sold shares of the company. Orser Capital Management LLC lifted its position in shares of Range Resources by 0.8% in 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 purchasing an additional 427 shares in the last quarter. Congress Asset Management Co. MA grew its position in Range Resources by 26.0% in the first quarter. Congress Asset Management Co. MA now owns 492,504 shares of the oil and gas exploration company’s stock valued at $16,957,000 after purchasing an additional 101,739 shares in the last quarter. One Plus One Wealth Management LLC acquired a new stake in Range Resources in the 1st quarter valued at $210,000. Kapitalo Investimentos Ltda lifted its position in Range Resources by 108.0% during the 4th quarter. Kapitalo Investimentos Ltda now owns 7,052 shares of the oil and gas exploration company’s stock worth $215,000 after buying an additional 3,661 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Range Resources during the 4th quarter worth about $682,000. Institutional investors and hedge funds 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.