Jefferies Financial Group Raises Range Resources (NYSE:RRC) Price Target to $34.00

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

A number of other research firms have also recently weighed in on RRC. Scotiabank downgraded Range Resources from a sector outperform rating to a sector perform rating and boosted their target price for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Raymond James dropped their price target on Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Benchmark reaffirmed a hold rating on shares of Range Resources in a research report on Wednesday, April 24th. Royal Bank of Canada cut shares of Range Resources from an outperform rating to a sector perform rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Finally, Stephens upped their price target on shares of Range Resources from $41.00 to $42.00 and gave the company an overweight rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has an average rating of Hold and a consensus target price of $36.62.

Range Resources Stock Up 2.1 %

NYSE:RRC opened at $35.71 on Thursday. The company’s 50-day simple moving average is $34.23 and its 200-day simple moving average is $32.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25. The stock has a market capitalization of $8.66 billion, a P/E ratio of 18.13 and a beta of 1.85.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS 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 analysts’ expectations of $680.72 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Range Resources will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

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

Insider Buying and Selling 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 completion of the sale, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of RRC. Raleigh Capital Management Inc. acquired a new stake in Range Resources in the 3rd quarter worth about $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Range Resources in the third quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Range Resources by 267.9% during the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 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.