UBS Group Forecasts Strong Price Appreciation for Range Resources (NYSE:RRC) Stock

Range Resources (NYSE:RRC) had its price objective hoisted by UBS Group from $39.00 to $41.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas exploration company’s stock.

RRC has been the subject of several other research reports. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a report on Friday, January 17th. Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Truist Financial raised their price objective on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their target price on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Range Resources has an average rating of “Hold” and an average price target of $38.78.

Range Resources Stock Up 0.8 %

Shares of RRC opened at $38.80 on Thursday. The business’s 50 day simple moving average is $37.08 and its 200-day simple moving average is $33.28. Range Resources has a 1 year low of $27.29 and a 1 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. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 19.60 and a beta of 1.77.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Institutional Trading of Range Resources

A number of large investors have recently modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of Range Resources by 3.1% in 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 buying an additional 327 shares during the period. Commerce Bank raised its holdings in shares of Range Resources by 5.7% in the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after acquiring an additional 369 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock worth $268,000 after acquiring an additional 378 shares during the period. Commonwealth Equity Services LLC grew its holdings in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock worth $508,000 after acquiring an additional 379 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in Range Resources by 1.3% during the 4th 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 purchasing an additional 390 shares during the period. Hedge funds and other 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.