Range Resources (NYSE:RRC) Price Target Raised to $44.00

Range Resources (NYSE:RRC) had its price target increased by Stephens from $43.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and gas exploration company’s stock.

Several other analysts have also recently commented on RRC. Wells Fargo & Company increased their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Mizuho upped their target price on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Finally, Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Range Resources presently has a consensus rating of “Hold” and an average price target of $39.00.

Range Resources Trading Up 2.0 %

Shares of RRC stock opened at $37.11 on Wednesday. The company has a market capitalization of $8.96 billion, a P/E ratio of 18.74, a P/E/G ratio of 5.11 and a beta of 1.77. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. 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 50-day moving average price of $37.97 and a 200 day moving average price of $33.92.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during 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 in the previous year, the company posted $0.63 earnings per share. Research analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. Range Resources’s payout ratio is presently 29.09%.

Institutional Trading of Range Resources

Hedge funds have recently modified their holdings of the company. Boston Partners increased its stake in Range Resources by 4.9% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $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 4th quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock valued at $246,968,000 after buying an additional 165,242 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after buying an additional 2,104,304 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after acquiring an additional 35,344 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.