Range Resources (NYSE:RRC) Stock Price Expected to Rise, Barclays Analyst Says

Range Resources (NYSE:RRC) had its price objective boosted by Barclays from $34.00 to $40.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other research reports. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a report on Friday, January 17th. Stephens upped their target price on Range Resources from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Finally, Truist Financial lifted their price target on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.00.

Range Resources Stock Down 0.2 %

RRC stock opened at $37.52 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.05 billion, a PE ratio of 18.95 and a beta of 1.81. The business has a 50-day simple moving average of $36.51 and a 200 day simple moving average of $32.92. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is presently 16.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. M&T Bank Corp boosted its stake in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares during the period. Commerce Bank raised its holdings in shares of Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after buying an additional 369 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Range Resources by 0.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after acquiring an additional 420 shares during the last quarter. UMB Bank n.a. boosted its position in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the period. Finally, Inscription Capital LLC grew its holdings in Range Resources by 3.6% in the 3rd quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock worth $386,000 after acquiring an additional 433 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.