Range Resources (NYSE:RRC) Price Target Lowered to $44.00 at JPMorgan Chase & Co.

Range Resources (NYSE:RRC) had its price target cut by JPMorgan Chase & Co. from $46.00 to $44.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

A number of other research analysts have also weighed in on RRC. Barclays increased their price target on Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of Range Resources in a research note on Tuesday, July 15th. Susquehanna upped their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Citigroup decreased their target price on shares of Range Resources from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. Finally, Roth Capital downgraded shares of Range Resources from a “buy” rating to a “neutral” rating and lowered their target price for the company from $44.00 to $35.00 in a report on Monday, August 18th. Eight investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.75.

Range Resources Trading Up 1.4%

Range Resources stock opened at $38.77 on Monday. The stock has a 50-day moving average price of $35.24 and a 200 day moving average price of $36.86. Range Resources has a 52 week low of $28.99 and a 52 week high of $43.50. The stock has a market cap of $9.23 billion, a PE ratio of 19.48, a P/E/G ratio of 0.33 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company 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 earned $0.46 EPS. Equities research analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, September 12th. Range Resources’s dividend payout ratio (DPR) is 18.09%.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its position in shares of Range Resources by 230.1% during the second quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after buying an additional 3,336,299 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Range Resources during the 2nd quarter valued at $36,590,000. Peconic Partners LLC acquired a new position in Range Resources during the 2nd quarter worth $32,536,000. King Luther Capital Management Corp increased its position in shares of Range Resources by 2,522.3% in the 1st quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company’s stock worth $32,888,000 after purchasing an additional 792,240 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Range Resources by 30.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company’s stock valued at $120,050,000 after purchasing an additional 689,212 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.