Mizuho Reiterates "Buy" Rating for Range Resources (NYSE:RRC)

Mizuho reiterated their buy rating on shares of Range Resources (NYSE:RRC - Free Report) in a research note released on Thursday, Benzinga reports. Mizuho currently has a $39.00 price objective on the oil and gas exploration company's stock.

Several other brokerages have also issued reports on RRC. Truist Financial reduced their price target on Range Resources from $32.00 to $30.00 and set a hold rating for the company in a report on Friday, April 5th. Morgan Stanley lifted their price target on Range Resources from $22.00 to $23.00 and gave the company an underweight rating in a report on Thursday, March 28th. Piper Sandler reduced their price target on Range Resources from $42.00 to $40.00 and set an overweight rating for the company in a report on Thursday, March 7th. Benchmark lowered Range Resources from a buy rating to a hold rating in a report on Thursday, January 11th. Finally, Citigroup lifted their price target on Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $35.25.

Range Resources Trading Down 0.8 %

Shares of NYSE:RRC traded down $0.30 during midday trading on Thursday, reaching $36.03. The company had a trading volume of 1,920,063 shares, compared to its average volume of 2,584,570. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. Range Resources has a 1-year low of $23.92 and a 1-year high of $37.88. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 10.13 and a beta of 1.83. The company has a fifty day simple moving average of $32.07 and a two-hundred day simple moving average of $32.07.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.21. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. During the same period last year, the company posted $1.26 EPS. The business's quarterly revenue was down 42.3% compared to the same quarter last year. Research analysts predict that Range Resources will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's dividend payout ratio is currently 9.04%.

Institutional Trading of Range Resources

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Range Resources by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 25,135,388 shares of the oil and gas exploration company's stock worth $634,920,000 after purchasing an additional 111,026 shares in the last quarter. Boston Partners grew its holdings in shares of Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company's stock worth $194,722,000 after purchasing an additional 6,070,900 shares in the last quarter. Exor Capital LLP boosted its stake in Range Resources by 2.5% in the 4th quarter. Exor Capital LLP now owns 6,347,163 shares of the oil and gas exploration company's stock valued at $101,646,000 after buying an additional 157,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Range Resources by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company's stock valued at $180,568,000 after buying an additional 90,028 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Range Resources by 55.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company's stock valued at $106,067,000 after buying an additional 1,429,500 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

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.