Piper Sandler Lowers Range Resources (NYSE:RRC) Price Target to $30.00

Range Resources (NYSE:RRC) had its price target trimmed by Piper Sandler from $31.00 to $30.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Other equities analysts have also issued reports about the stock. Susquehanna cut their price target on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Mizuho reduced their target price on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, July 25th. Finally, Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price target for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.94.

Range Resources Trading Up 0.8 %

RRC opened at $35.44 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 17.90 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The stock has a fifty day moving average price of $31.48 and a 200-day moving average price of $32.61.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts anticipate that Range Resources will post 1.88 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. Range Resources’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the purchase, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now owns 9,670 shares of the company’s stock, valued at $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

A number of hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its holdings in shares of Range Resources by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in Range Resources by 135.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after buying an additional 64,443 shares during the period. TCW Group Inc. lifted its position in Range Resources by 186.5% in the second quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock valued at $1,671,000 after buying an additional 32,433 shares during the last quarter. Finally, Mariner Investment Group LLC purchased a new position in Range Resources during the third quarter worth about $1,077,000. 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.