Range Resources (NYSE:RRC) Given New $44.00 Price Target at Stephens

Range Resources (NYSE:RRC) had its target price hoisted by Stephens from $43.00 to $44.00 in a research report report published on Wednesday,Benzinga reports. Stephens currently has an overweight rating on the oil and gas exploration company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Truist Financial raised their target price on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Citigroup upped their price target on shares of Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.83.

Range Resources Price Performance

Range Resources stock opened at $38.49 on Wednesday. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 5.11 and a beta of 1.78. The firm’s fifty day moving average is $37.82 and its 200 day moving average is $33.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the company earned $0.63 EPS. Sell-side analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Hedge Funds Weigh In On Range Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp grew its holdings in Range Resources by 3.1% during the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after acquiring an additional 327 shares in the last quarter. Commerce Bank lifted its position in shares of Range Resources by 5.7% in the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after purchasing an additional 378 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after buying an additional 379 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after buying an additional 390 shares during the period. Institutional investors 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.