Susquehanna Boosts Range Resources (NYSE:RRC) Price Target to $36.00

Range Resources (NYSE:RRC) had its target price upped by Susquehanna from $34.00 to $36.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

A number of other research firms have also recently weighed in on RRC. Royal Bank of Canada restated an outperform rating and set a $36.00 price objective on shares of Range Resources in a research report on Tuesday, April 9th. Mizuho restated a buy rating and set a $39.00 price objective on shares of Range Resources in a research report on Thursday, April 11th. Scotiabank cut shares of Range Resources from a sector outperform rating to a sector perform rating and upped their price objective for the stock from $40.00 to $45.00 in a research report on Thursday, April 11th. Morgan Stanley upped their target price on shares of Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a report on Wednesday, April 17th. Finally, Raymond James dropped their target price on shares of Range Resources from $37.00 to $36.00 and set an outperform rating for the company in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $36.40.

Range Resources Stock Performance

RRC opened at $37.69 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a fifty day moving average price of $33.67 and a 200 day moving average price of $32.40. Range Resources has a 1 year low of $23.92 and a 1 year high of $38.25. The stock has a market cap of $9.13 billion, a P/E ratio of 19.13 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The firm had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same period in the previous year, the business posted $0.96 EPS. The business’s revenue was down 15.7% compared to the same quarter last year. Equities research analysts anticipate that Range Resources will post 1.99 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.57% of the company’s stock.

Institutional Trading of Range Resources

Several hedge funds have recently added to or reduced their stakes in RRC. National Bank of Canada FI raised its holdings in Range Resources by 970.0% in 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 acquiring an additional 2,910 shares in the last quarter. SG Americas Securities LLC increased its stake in Range Resources by 90.2% in 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 last quarter. Impact Partnership Wealth LLC purchased a new position in Range Resources in the third quarter valued at approximately $128,000. Private Wealth Advisors LLC purchased a new position in Range Resources in the third quarter valued at approximately $2,264,000. Finally, Proffitt & Goodson Inc. purchased a new position in Range Resources in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

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.