Range Resources (NYSE:RRC) Price Target Lowered to $42.00 at Mizuho

Range Resources (NYSE:RRC) had its price target trimmed by Mizuho from $48.00 to $42.00 in a research report sent to investors on Monday, Marketbeat.com reports. The firm currently has an outperform rating on the oil and gas exploration company’s stock.

Other research analysts have also issued reports about the stock. Barclays increased their price objective on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Piper Sandler cut their price target on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Range Resources in a report on Tuesday, July 15th. Scotiabank set a $46.00 price target on shares of Range Resources and gave the company a “sector perform” rating in a report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Range Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.45.

Range Resources Trading Down 0.6%

Shares of RRC stock opened at $35.11 on Monday. The firm has a market cap of $8.36 billion, a P/E ratio of 17.64, a PEG ratio of 0.30 and a beta of 0.55. Range Resources has a 1-year low of $28.99 and a 1-year high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The firm’s 50-day simple moving average is $35.32 and its 200-day simple moving average is $36.97.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million for the quarter, compared to analyst estimates of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same period in the prior year, the firm posted $0.46 EPS. As a group, equities analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Institutional Trading of Range Resources

Several large investors have recently bought and sold shares of RRC. Hantz Financial Services Inc. grew its position in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Range Resources in the first quarter valued at approximately $33,000. Bessemer Group Inc. grew its position in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Range Resources in the first quarter valued at approximately $39,000. Finally, Barrett & Company Inc. acquired a new stake in shares of Range Resources during the second quarter worth approximately $41,000. Institutional investors and hedge funds 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.