Range Resources (NYSE:RRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC) from a sell rating to a hold rating in a research note released on Thursday.

RRC has been the topic of several other reports. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Citigroup increased their price objective on Range Resources from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 target price on shares of Range Resources in a research report on Tuesday, January 14th. UBS Group raised their price target on shares of Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $45.00 in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $39.00.

Range Resources Price Performance

Shares of NYSE RRC opened at $37.11 on Thursday. The company has a 50 day simple moving average of $37.97 and a two-hundred day simple moving average of $33.95. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 5.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. During the same period in the prior year, the firm posted $0.63 EPS. Analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.97%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 29.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in shares of Range Resources in the third quarter worth $25,000. Smartleaf Asset Management LLC lifted 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 worth $37,000 after purchasing an additional 471 shares in the last quarter. UMB Bank n.a. lifted its stake in Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Range Resources during the 4th quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Range Resources during the fourth quarter valued at about $46,000. 98.93% of the stock is currently owned by institutional investors.

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.