Range Resources (NYSE:RRC) PT Raised to $39.00 at Stifel Nicolaus

Range Resources (NYSE:RRC) had its price target boosted by Stifel Nicolaus from $36.00 to $39.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other reports. StockNews.com upgraded shares of Range Resources to a sell rating in a research report on Wednesday, March 13th. Royal Bank of Canada reissued an outperform rating and issued a $36.00 price objective on shares of Range Resources in a research note on Tuesday, April 9th. Piper Sandler lifted 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. Barclays began coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an underweight rating and a $35.00 price objective on the stock. Finally, Truist Financial decreased their price objective on shares of 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 research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $36.65.

Range Resources Stock Down 0.9 %

NYSE RRC opened at $37.32 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. Range Resources has a 1-year low of $23.92 and a 1-year high of $38.25. The company has a 50 day moving average of $33.80 and a 200-day moving average of $32.42. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same period in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities research analysts expect that Range Resources will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s payout ratio is 16.24%.

Insider Activity 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 shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI raised its holdings in shares of Range Resources by 970.0% during the third quarter. National Bank of Canada FI now owns 3,210 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 2,910 shares during the period. SG Americas Securities LLC raised its holdings in shares of Range Resources by 90.2% during the third 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 period. Impact Partnership Wealth LLC acquired a new position in shares of Range Resources during the third quarter valued at about $128,000. Private Wealth Advisors LLC acquired a new position in shares of Range Resources during the third quarter valued at about $2,264,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Range Resources during the third quarter valued at about $32,000. 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.