Range Resources (NYSE:RRC) PT Raised to $36.00 at Susquehanna

Range Resources (NYSE:RRC) had its target price hoisted by Susquehanna from $34.00 to $36.00 in a report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price target on shares of Range Resources from $38.00 to $37.00 and set a buy rating on the stock in a report on Tuesday, January 23rd. Mizuho restated a buy rating and issued a $39.00 price objective on shares of Range Resources in a research report on Thursday, April 11th. Piper Sandler upped their price objective on Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Benchmark lowered Range Resources from a buy rating to a hold rating in a research report on Thursday, January 11th. Finally, StockNews.com upgraded Range Resources to a sell rating in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $36.40.

Range Resources Stock Performance

RRC opened at $37.77 on Monday. Range Resources has a 52-week low of $23.92 and a 52-week high of $37.89. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The company has a market cap of $9.14 billion, a P/E ratio of 10.67 and a beta of 1.83. The firm’s 50-day moving average price is $33.52 and its 200-day moving average price is $32.37.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the company earned $0.96 EPS. Range Resources’s quarterly revenue was down 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Range Resources will post 1.9 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. Range Resources’s payout ratio is currently 9.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Raleigh Capital Management Inc. purchased a new position in Range Resources in the 3rd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Range Resources in the 3rd quarter worth $27,000. Proffitt & Goodson Inc. acquired a new stake in shares of Range Resources in the 3rd quarter worth $32,000. Finally, Larson Financial Group LLC increased its stake in shares of Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.