Range Resources (NYSE:RRC) Price Target Raised to $37.00 at Truist Financial

Range Resources (NYSE:RRC) had its target price upped by Truist Financial from $35.00 to $37.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the oil and gas exploration company’s stock.

Other research analysts have also issued research reports about the company. Barclays set a $43.00 price target on Range Resources and gave the company an “equal weight” rating in a research report on Thursday, February 27th. 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 report on Friday, January 17th. Citigroup cut shares of Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. 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 report on Friday, January 3rd. Finally, Wells Fargo & Company raised their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Range Resources currently has a consensus rating of “Hold” and an average price target of $39.95.

Range Resources Stock Up 2.1 %

Shares of NYSE RRC opened at $40.48 on Monday. The firm’s fifty day moving average is $38.47 and its 200 day moving average is $34.62. Range Resources has a 52 week low of $27.29 and a 52 week 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 company has a market cap of $9.77 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings data 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 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 in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Brooklyn Investment Group bought a new stake in Range Resources in the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC boosted its stake in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 471 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% in 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 acquiring an additional 426 shares during the period. Headlands Technologies LLC purchased a new stake in Range Resources during the fourth quarter valued at $42,000. Finally, Geneos Wealth Management Inc. bought a new position in Range Resources in the fourth quarter valued at about $46,000. 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.