Range Resources (NYSE:RRC) Price Target Lowered to $41.00 at Susquehanna

Range Resources (NYSE:RRC) had its price target cut by Susquehanna from $45.00 to $41.00 in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Several other analysts also recently weighed in on the stock. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Truist Financial reduced their price objective on Range Resources from $46.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Citigroup reduced their price objective on Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. Finally, Stephens lowered their target price on Range Resources from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $43.12.

Range Resources Trading Up 2.8%

RRC stock opened at $37.70 on Tuesday. The company has a market capitalization of $8.88 billion, a PE ratio of 9.97 and a beta of 0.41. Range Resources has a one year low of $32.60 and a one year high of $48.31. The company’s 50 day moving average price is $38.40 and its two-hundred day moving average price is $39.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter in the prior year, the company earned $0.96 EPS. The firm’s revenue was up 49.8% on a year-over-year basis. As a group, analysts predict that Range Resources will post 3.46 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio is currently 10.58%.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock valued at $901,021,000 after purchasing an additional 701,751 shares during the last quarter. King Luther Capital Management Corp grew its position in shares of Range Resources by 49.8% in the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock worth $45,202,000 after buying an additional 426,300 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Range Resources by 101.2% in the 4th quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company’s stock worth $2,351,000 after buying an additional 33,544 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in shares of Range Resources during the fourth quarter valued at approximately $21,129,000. Finally, Canoe Financial LP increased its stake in shares of Range Resources by 13.1% during the fourth quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock valued at $56,261,000 after buying an additional 182,000 shares during the period. Hedge funds and other institutional investors 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.