Range Resources (NYSE:RRC) Upgraded at Zacks Research

Zacks Research upgraded shares of Range Resources (NYSE:RRC) from a strong sell rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, February 27th. Citigroup raised their price objective on Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Piper Sandler lifted their target price on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Mizuho increased their price target on Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, UBS Group raised their price target on Range Resources from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.44.

Range Resources Trading Down 1.5%

Shares of NYSE RRC opened at $44.60 on Wednesday. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $46.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.42 and a beta of 0.57. The business’s 50 day moving average price is $38.42 and its 200-day moving average price is $37.26.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The company had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the previous year, the business earned $0.68 EPS. Range Resources’s revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, March 13th. This is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.9%. Range Resources’s dividend payout ratio is currently 14.60%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new stake in Range Resources in the fourth quarter valued at $34,000. True Wealth Design LLC grew its holdings in Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC grew its holdings in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares during the period. Allworth Financial LP increased its position in Range Resources by 196.5% during the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 731 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in Range Resources in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.