Range Resources (NYSE:RRC) Price Target Lowered to $38.00 at Wells Fargo & Company

Range Resources (NYSE:RRC) had its target price decreased by Wells Fargo & Company from $39.00 to $38.00 in a research note published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the oil and gas exploration company’s stock.

Several other analysts also recently weighed in on RRC. Morgan Stanley decreased their price target 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. Mizuho decreased their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a report on Monday, July 8th. Finally, Susquehanna cut their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.06.

Range Resources Trading Down 0.3 %

Shares of Range Resources stock opened at $31.33 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a twelve month low of $27.29 and a twelve month high of $39.33. The business has a 50-day moving average price of $30.25 and a 200-day moving average price of $32.99. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 15.82 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.73%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. Equities research analysts anticipate that Range Resources will post 1.89 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Insiders Place Their Bets

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after acquiring an additional 5,759,883 shares during the period. Vanguard Group Inc. boosted its holdings in Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares during the last quarter. Boston Partners boosted its holdings in Range Resources by 2.1% in the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after purchasing an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP boosted its holdings in Range Resources by 1.5% in the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after purchasing an additional 93,782 shares during the last quarter. Finally, KGH Ltd boosted its holdings in Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

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.