Range Resources (NYSE:RRC) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Range Resources (NYSE:RRC) from a peer perform rating to an outperform rating in a report published on Friday morning, Marketbeat.com reports. The firm currently has $42.00 price objective on the oil and gas exploration company’s stock.

Several other equities research analysts also recently commented on the company. Mizuho upped their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Wells Fargo & Company boosted their price target 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. Piper Sandler dropped their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group decreased their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Morgan Stanley reduced their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and an average price target of $36.32.

Range Resources Trading Down 0.4 %

NYSE:RRC opened at $35.91 on Friday. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 18.14 and a beta of 1.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The business has a fifty day moving average of $34.13 and a 200-day moving average of $32.26. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Range Resources will post 1.91 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently disclosed 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 0.89%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Insider Activity at Range Resources

In related news, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at $186,274.66. This trade represents a 27.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Range Resources

Several institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in Range Resources during the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the period. Versant Capital Management Inc raised its holdings in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after purchasing an additional 463 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Range Resources during the third quarter worth approximately $49,000. Finally, CWM LLC lifted its stake in shares of Range Resources by 276.8% in the 3rd quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 1,694 shares during the period. Institutional investors and hedge funds 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.