Range Resources (NYSE:RRC) Given New $36.00 Price Target at UBS Group

Range Resources (NYSE:RRC) had its price target trimmed by UBS Group from $41.00 to $36.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Several other equities analysts have also commented on RRC. Williams Trading set a $40.00 price objective on Range Resources in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Mizuho boosted their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.70.

Range Resources Trading Up 0.0 %

Shares of Range Resources stock opened at $33.47 on Monday. The company has a 50 day simple moving average of $38.22 and a two-hundred day simple moving average of $35.56. The firm has a market cap of $8.08 billion, a PE ratio of 16.90, a PEG ratio of 5.11 and a beta of 1.73. 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.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the firm posted $0.63 EPS. Analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 1.08%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s payout ratio is 32.73%.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently modified their holdings of RRC. Smartleaf Asset Management LLC raised its stake 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 worth $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% during the 4th 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 bought a new position in shares of Range Resources in the 4th quarter worth approximately $42,000. Geneos Wealth Management Inc. purchased a new position in shares of Range Resources in the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc boosted its position in shares of Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 463 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other 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.