Range Resources (NYSE:RRC) Upgraded at Roth Mkm

Roth Mkm upgraded shares of Range Resources (NYSE:RRC) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat.com reports. They currently have $42.00 target price on the oil and gas exploration company’s stock, up from their prior target price of $41.00.

Several other analysts also recently commented on the stock. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, January 3rd. The Goldman Sachs Group increased their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Piper Sandler upped their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, Barclays set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.71.

Range Resources Stock Down 6.7 %

Shares of NYSE:RRC opened at $32.25 on Tuesday. The firm has a market cap of $7.78 billion, a P/E ratio of 16.29, a PEG ratio of 5.11 and a beta of 1.73. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The business’s 50 day simple moving average is $37.79 and its two-hundred day simple moving average is $35.57. 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 released its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the firm earned $0.63 earnings per share. As a group, research analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its position in shares of Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after purchasing an additional 2,104,304 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Range Resources in the fourth quarter worth approximately $33,684,000. Amundi grew its position in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after acquiring an additional 826,530 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock worth $263,768,000 after acquiring an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock worth $80,554,000 after acquiring an additional 605,315 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.