Range Resources (NYSE:RRC) Price Target Raised to $32.00

Range Resources (NYSE:RRC) had its target price increased by Piper Sandler from $30.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Several other analysts also recently commented on RRC. Truist Financial boosted their target price on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a report on Wednesday, November 27th. Wells Fargo & Company raised their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Finally, Stephens raised their target price on shares of Range Resources from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and an average target price of $38.00.

Range Resources Stock Down 1.6 %

Shares of Range Resources stock opened at $36.97 on Wednesday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 18.67 and a beta of 1.81. The stock has a 50-day simple moving average of $36.54 and a 200-day simple moving average of $32.93. Range Resources has a 52-week low of $27.29 and a 52-week 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.87%. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in shares of Range Resources by 10.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 96,719 shares of the oil and gas exploration company’s stock valued at $3,243,000 after acquiring an additional 8,969 shares in the last quarter. Algert Global LLC bought a new position in Range Resources during the second quarter worth about $818,000. Creative Planning boosted its holdings in Range Resources by 5.3% during the second quarter. Creative Planning now owns 55,655 shares of the oil and gas exploration company’s stock valued at $1,866,000 after purchasing an additional 2,792 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Range Resources in the 2nd quarter valued at approximately $486,000. Finally, SG Americas Securities LLC raised its holdings in shares of Range Resources by 853.0% in the 3rd quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock worth $6,106,000 after buying an additional 177,689 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

About Range Resources

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.