Susquehanna Cuts Range Resources (NYSE:RRC) Price Target to $36.00

Range Resources (NYSE:RRC - Free Report) had its target price reduced by Susquehanna from $40.00 to $36.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company's stock.

Other research analysts also recently issued reports about the company. Citigroup downgraded Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. Scotiabank cut shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective on the stock. in a report on Friday, January 17th. Morgan Stanley set a $41.00 target price on shares of Range Resources in a research note on Tuesday, April 15th. Wolfe Research upgraded shares of Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research note on Friday, January 3rd. Finally, Truist Financial increased their price objective on Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.50.

Range Resources Stock Performance

Shares of NYSE:RRC traded up $0.97 on Tuesday, reaching $34.83. 2,827,194 shares of the company's stock were exchanged, compared to its average volume of 2,452,653. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The business's 50-day moving average is $36.72 and its two-hundred day moving average is $35.75. 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 firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the company posted $0.63 earnings per share. As a group, equities research analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. This is a boost from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is currently 32.73%.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently modified their holdings of RRC. Boston Partners boosted its position in shares of Range Resources by 4.9% in the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock valued at $287,078,000 after purchasing an additional 371,777 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after buying an additional 624,955 shares during the period. Lingotto Investment Management LLP increased its position in shares of Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company's stock worth $246,968,000 after acquiring an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after acquiring an additional 2,104,304 shares during the period. Finally, Canoe Financial LP lifted its position in shares of Range Resources by 9.4% in the 4th quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company's stock valued at $104,595,000 after acquiring an additional 251,200 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.