Range Resources (NYSE:RRC) Given New $32.00 Price Target at Piper Sandler

Range Resources (NYSE:RRC) had its target price lifted by Piper Sandler from $30.00 to $32.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

A number of other equities analysts also recently commented on the company. Mizuho upped their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Wells Fargo & Company increased their price objective on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Citigroup increased their target price on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Truist Financial increased their target price on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $37.67.

Range Resources Stock Performance

Shares of RRC stock opened at $37.66 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $9.09 billion, a P/E ratio of 19.02 and a beta of 1.81. The stock has a 50 day moving average price of $36.47 and a two-hundred day moving average price of $32.89. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95.

Range Resources Announces Dividend

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

Institutional Investors Weigh In On Range Resources

A number of large investors have recently made changes to their positions in RRC. Brooklyn Investment Group purchased a new position in shares of Range Resources during the 3rd quarter valued at about $25,000. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. Blue Trust Inc. lifted its position in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources during the 4th quarter valued at about $46,000. Finally, Bogart Wealth LLC purchased a new position in Range Resources in the 3rd quarter worth approximately $49,000. 98.93% of the stock is currently owned by institutional investors.

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.