Range Resources (NYSE:RRC – Free Report) had its price target lifted by Wells Fargo & Company from $35.00 to $38.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the oil and gas exploration company’s stock.
Other equities analysts also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of Range Resources from $37.00 to $41.00 and gave the stock an overweight rating in a report on Monday, August 14th. Stephens reiterated an overweight rating and set a $34.00 price objective on shares of Range Resources in a research note on Tuesday, July 25th. UBS Group lifted their target price on Range Resources from $24.00 to $28.00 and gave the company a sell rating in a research note on Thursday, August 17th. StockNews.com started coverage on Range Resources in a research report on Wednesday, August 23rd. They set a hold rating on the stock. Finally, Morgan Stanley reiterated an underweight rating and issued a $20.00 price objective on shares of Range Resources in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $34.19.
Range Resources Trading Up 3.0 %
Range Resources (NYSE:RRC – Get Free Report) last posted its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Range Resources had a return on equity of 31.85% and a net margin of 37.22%. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $567.67 million. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was down 48.0% compared to the same quarter last year. As a group, research analysts expect that Range Resources will post 1.96 EPS for the current fiscal year.
Range Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 0.96%. Range Resources’s dividend payout ratio is presently 4.66%.
In related news, Director Reginal Spiller sold 1,950 shares of Range Resources stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $26.80, for a total transaction of $52,260.00. Following the completion of the sale, the director now owns 16,713 shares of the company’s stock, valued at $447,908.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.57% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Range Resources
Several large investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Range Resources by 8.8% in the first quarter. FMR LLC now owns 28,963,656 shares of the oil and gas exploration company’s stock valued at $766,668,000 after acquiring an additional 2,334,862 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Range Resources by 143.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,897,553 shares of the oil and gas exploration company’s stock worth $103,169,000 after purchasing an additional 2,296,114 shares in the last quarter. Aventail Capital Group LP increased its position in Range Resources by 1,498.1% during the first quarter. Aventail Capital Group LP now owns 1,694,698 shares of the oil and gas exploration company’s stock worth $44,859,000 after buying an additional 1,588,655 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Range Resources by 55.5% during the first quarter. Renaissance Technologies LLC now owns 4,007,083 shares of the oil and gas exploration company’s stock valued at $106,067,000 after buying an additional 1,429,500 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Range Resources in the first quarter worth about $37,017,000. Institutional investors own 94.73% of the company’s stock.
Range Resources Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.
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