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

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

A number of other brokerages have also issued reports on RRC. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Stephens raised their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Barclays set a $43.00 price objective on Range Resources and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Wells Fargo & Company lifted their target price on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America raised Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Range Resources presently has an average rating of “Hold” and a consensus price target of $39.95.

Range Resources Price Performance

Shares of RRC opened at $38.88 on Monday. The firm has a 50-day simple moving average of $38.35 and a two-hundred day simple moving average of $34.51. The stock has a market cap of $9.38 billion, a PE ratio of 19.63, a P/E/G ratio of 5.11 and a beta of 1.80. 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 announced 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. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the previous year, the company earned $0.63 earnings per share. As a group, analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. Range Resources’s payout ratio is 32.73%.

Institutional Trading of Range Resources

A number of large investors have recently made changes to their positions in RRC. Brooklyn Investment Group purchased a new stake in Range Resources during the third quarter worth $25,000. Smartleaf Asset Management LLC grew its stake in 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 valued at $37,000 after acquiring an additional 471 shares during the last quarter. UMB Bank n.a. increased its holdings in 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 valued at $41,000 after acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC acquired a new position in Range Resources during the fourth quarter worth about $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at about $46,000. 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.