The Goldman Sachs Group Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its target price boosted by The Goldman Sachs Group from $39.00 to $43.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Several other research analysts also recently commented on the company. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Wells Fargo & Company upped their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Stephens raised their target price on shares of Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Finally, Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $45.00 in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.44.

Range Resources Stock Performance

Shares of RRC stock opened at $38.43 on Wednesday. The stock has a market cap of $9.27 billion, a P/E ratio of 19.41 and a beta of 1.77. The company has a fifty day moving average price of $36.99 and a two-hundred day moving average price of $33.24. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

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

Institutional Investors Weigh In On Range Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Range Resources during the third quarter worth about $25,000. Smartleaf Asset Management LLC lifted its position in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC purchased a new stake in Range Resources in the fourth quarter worth $42,000. Finally, Geneos Wealth Management Inc. bought a new stake in Range Resources during the 4th quarter valued at approximately $46,000. 98.93% of the stock is currently owned by institutional investors.

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.