Range Resources (NYSE:RRC) Price Target Increased to $33.00 by Analysts at Stifel Nicolaus

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

Other equities analysts have also issued reports about the stock. Stephens assumed coverage on shares of Range Resources in a report on Monday, April 24th. They issued an overweight rating and a $34.00 price objective on the stock. Mizuho raised shares of Range Resources from a neutral rating to a buy rating and increased their price objective for the stock from $30.00 to $35.00 in a research report on Friday. Morgan Stanley lowered their price objective 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. Tudor, Pickering, Holt & Co. raised shares of Range Resources from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Tuesday, March 21st. Finally, Benchmark raised shares of Range Resources from a hold rating to a buy rating and set a $32.00 price objective for the company in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Range Resources presently has an average rating of Hold and a consensus price target of $32.71.

Range Resources Stock Performance

NYSE RRC opened at $29.62 on Monday. The stock has a market cap of $7.15 billion, a P/E ratio of 3.48, a PEG ratio of 0.46 and a beta of 2.13. Range Resources has a twelve month low of $22.61 and a twelve month high of $37.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $25.90 and its 200 day simple moving average is $26.08.

Range Resources (NYSE:RRC – Get Rating) last announced its earnings results on Monday, April 24th. The oil and gas exploration company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. Range Resources had a net margin of 41.18% and a return on equity of 45.55%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $772.38 million. During the same period in the prior year, the business earned $1.18 earnings per share. Range Resources’s quarterly revenue was up 556.4% on a year-over-year basis. As a group, research analysts forecast that Range Resources will post 2.25 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, March 14th. Range Resources’s dividend payout ratio is 3.76%.

Insider Buying and Selling

In other news, SVP Dori Ginn sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $29.49, for a total value of $1,179,600.00. Following the completion of the transaction, the senior vice president now directly owns 282,738 shares in the company, valued at approximately $8,337,943.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $27.39, for a total transaction of $997,516.41. Following the completion of the transaction, the senior vice president now directly owns 98,899 shares in the company, valued at approximately $2,708,843.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Dori Ginn sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $29.49, for a total transaction of $1,179,600.00. Following the transaction, the senior vice president now owns 282,738 shares of the company’s stock, valued at $8,337,943.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,094 shares of company stock valued at $9,755,245. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the stock. Third Point LLC acquired a new position in Range Resources during the 3rd quarter worth approximately $98,514,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Range Resources by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,067 shares of the oil and gas exploration company’s stock worth $977,000 after acquiring an additional 5,028 shares during the last quarter. SG Americas Securities LLC grew its holdings in Range Resources by 202.1% during the 4th quarter. SG Americas Securities LLC now owns 67,162 shares of the oil and gas exploration company’s stock worth $1,680,000 after acquiring an additional 44,930 shares during the last quarter. Profund Advisors LLC grew its holdings in Range Resources by 126.7% during the 3rd quarter. Profund Advisors LLC now owns 21,054 shares of the oil and gas exploration company’s stock worth $532,000 after acquiring an additional 11,766 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in Range Resources during the 3rd quarter worth approximately $594,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.

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.