Range Resources (NYSE:RRC) Given New $36.00 Price Target at Susquehanna

Range Resources (NYSE:RRC) had its target price hoisted by Susquehanna from $34.00 to $36.00 in a report released on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

RRC has been the subject of several other research reports. Morgan Stanley lifted their target price on shares of Range Resources from $23.00 to $33.00 and gave the company an underweight rating in a report on Wednesday, April 17th. Piper Sandler increased their target price on Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday. Citigroup lifted their target price on Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Mizuho reiterated a buy rating and set a $39.00 price target on shares of Range Resources in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Range Resources from $38.00 to $37.00 and set a buy rating for the company in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $35.90.

Range Resources Stock Performance

NYSE RRC opened at $36.12 on Monday. The stock has a fifty day simple moving average of $33.18 and a 200-day simple moving average of $32.30. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a market cap of $8.74 billion, a PE ratio of 10.20 and a beta of 1.83. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.88.

Range Resources (NYSE:RRC) last announced its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.21. The company had revenue of $941.40 million during the quarter, compared to analyst estimates of $672.25 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. Range Resources’s revenue was down 42.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 earnings per share. Equities analysts anticipate that Range Resources will post 1.94 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s payout ratio is currently 9.04%.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the business. Cary Street Partners Investment Advisory LLC acquired a new stake in Range Resources during the third quarter worth approximately $27,000. Schroder Investment Management Group grew its position in shares of Range Resources by 23.7% in the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after buying an additional 87,624 shares during the last quarter. Kennedy Capital Management LLC raised its stake in Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after acquiring an additional 33,793 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Range Resources in the third quarter valued at $19,704,000. Finally, Cambria Investment Management L.P. boosted its stake in Range Resources by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after acquiring an additional 20,685 shares in the last quarter. Hedge funds and other 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.