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

Range Resources (NYSE:RRC - Free Report) had its price objective raised by Stephens from $41.00 to $42.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the oil and gas exploration company's stock.

Other research analysts also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Range Resources from $33.00 to $37.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Royal Bank of Canada reissued an outperform rating and issued a $36.00 price target on shares of Range Resources in a report on Tuesday, April 9th. StockNews.com upgraded shares of Range Resources to a sell rating in a report on Wednesday, March 13th. Piper Sandler lifted their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Finally, Stifel Nicolaus raised their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a buy rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $36.40.

Range Resources Stock Up 3.3 %

Shares of RRC stock traded up $1.19 on Wednesday, hitting $37.77. The stock had a trading volume of 4,697,258 shares, compared to its average volume of 2,571,487. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources has a one year low of $23.92 and a one year high of $37.89. The business has a 50 day moving average price of $33.34 and a 200 day moving average price of $32.33. The company has a market cap of $9.14 billion, a PE ratio of 10.67 and a beta of 1.83.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. Range Resources's revenue was down 15.7% on a year-over-year basis. Research analysts anticipate that Range Resources will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Range Resources's dividend payout ratio is presently 9.04%.

Institutional Trading of Range Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Raleigh Capital Management Inc. purchased a new position in Range Resources in the third quarter valued at $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Range Resources by 333.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company's stock worth $26,000 after buying an additional 666 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of Range Resources during the third quarter worth approximately $32,000. Finally, Larson Financial Group LLC lifted its stake 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 worth $40,000 after acquiring an additional 900 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other 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.