Stephens Increases Range Resources (NYSE:RRC) Price Target to $42.00

Range Resources (NYSE:RRC) had its price objective boosted by Stephens from $41.00 to $42.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the oil and gas exploration company’s stock.

RRC has been the topic of several other research reports. Mizuho reaffirmed a buy rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, April 11th. Benchmark lowered Range Resources from a buy rating to a hold rating in a research note on Thursday, January 11th. Piper Sandler boosted their price target on Range Resources from $40.00 to $41.00 and gave the company an overweight rating in a research note on Friday, April 19th. Royal Bank of Canada reaffirmed an outperform rating and issued a $36.00 price target on shares of Range Resources in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus boosted their price target on Range Resources from $36.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $36.65.

Range Resources Stock Performance

RRC opened at $37.31 on Wednesday. The stock has a market cap of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83. 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 stock’s 50 day simple moving average is $33.80 and its 200-day simple moving average is $32.41.

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

Range Resources Announces Dividend

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

Insider Activity

In other news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Range Resources

Large investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new stake in Range Resources in the third quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. increased its holdings in 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 valued at $26,000 after purchasing an additional 666 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Range Resources in the third quarter valued at about $27,000. Proffitt & Goodson Inc. bought a new stake in Range Resources in the third quarter valued at about $32,000. Finally, Larson Financial Group LLC increased its holdings in Range Resources by 267.9% in the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 900 shares during the last quarter. 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.