Range Resources (NYSE:RRC) Price Target Raised to $33.00

Range Resources (NYSE:RRC – Get Rating) had its price objective hoisted by Stifel Nicolaus from $29.00 to $33.00 in a research report report published on Monday morning, The Fly reports.

Other analysts also recently issued reports about the stock. Piper Sandler decreased their target price on shares of Range Resources from $40.00 to $37.00 and set an overweight rating for the company in a research report on Wednesday, April 19th. Susquehanna reduced their price target on shares of Range Resources from $34.00 to $33.00 and set a positive rating for the company in a report on Friday, April 21st. Roth Capital restated a neutral rating on shares of Range Resources in a research note on Wednesday, February 8th. Morgan Stanley dropped their target price on shares of Range Resources from $21.00 to $20.00 and set an underweight rating for the company in a research report on Wednesday, April 19th. Finally, Royal Bank of Canada reissued an outperform rating and set a $40.00 price objective on shares of Range Resources in a report on Wednesday, March 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Range Resources has an average rating of Hold and an average price target of $32.52.

Range Resources Price Performance

RRC opened at $29.39 on Monday. The company has a 50-day moving average of $26.17 and a 200-day moving average of $26.14. The company has a market capitalization of $7.09 billion, a P/E ratio of 3.45, a PEG ratio of 0.46 and a beta of 2.13. Range Resources has a 1-year low of $22.61 and a 1-year high of $37.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.92 and a current ratio of 0.92.

Range Resources (NYSE:RRC – Get Rating) last posted its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.28. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $772.38 million. Range Resources had a net margin of 41.18% and a return on equity of 45.55%. Range Resources’s revenue was up 556.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Equities analysts expect that Range Resources will post 2.24 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 3.76%.

Insider Transactions at Range Resources

In related news, SVP Erin W. Mcdowell sold 36,419 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $27.39, for a total value of $997,516.41. Following the sale, the senior vice president now owns 98,899 shares in the company, valued at approximately $2,708,843.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark Scucchi sold 153,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $27.39, for a total transaction of $4,190,670.00. Following the completion of the sale, the chief financial officer now directly owns 263,070 shares in the company, valued at $7,205,487.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin W. Mcdowell sold 36,419 shares of Range Resources stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $27.39, for a total value of $997,516.41. Following the completion of the transaction, the senior vice president now owns 98,899 shares of the company’s stock, valued at $2,708,843.61. The disclosure for this sale can be found here. In the last three months, insiders sold 353,094 shares of company stock valued at $9,755,245. Corporate insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its stake in shares of Range Resources by 12.4% in the first quarter. Raymond James & Associates now owns 45,351 shares of the oil and gas exploration company’s stock worth $1,378,000 after acquiring an additional 4,987 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Range Resources by 31.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,865 shares of the oil and gas exploration company’s stock valued at $1,090,000 after acquiring an additional 8,648 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Range Resources during the first quarter worth $213,000. Lord Abbett & CO. LLC bought a new stake in Range Resources in the 1st quarter valued at $7,059,000. Finally, Canada Pension Plan Investment Board increased its stake in Range Resources by 1,102.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 151,710 shares of the oil and gas exploration company’s stock valued at $4,609,000 after buying an additional 139,096 shares during the last quarter. Institutional investors own 87.32% of the company’s stock.

About Range Resources

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Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.