Range Resources (NYSE:RRC) Given New $36.00 Price Target at UBS Group

Range Resources (NYSE:RRC) had its target price lowered by UBS Group from $37.00 to $36.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Several other research firms have also weighed in on RRC. Piper Sandler raised their price objective on shares of Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial upped their target price on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Barclays set a $43.00 price target on shares of Range Resources and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, Roth Mkm raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $42.00 in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.43.

Range Resources Trading Up 0.1 %

Range Resources stock opened at $34.14 on Thursday. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $8.24 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The firm has a 50 day simple moving average of $37.33 and a 200-day simple moving average of $35.64.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last year, the firm earned $0.63 EPS. As a group, equities research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Range Resources by 87.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. boosted its holdings in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the period. Headlands Technologies LLC acquired a new position in Range Resources in the 4th quarter valued at $42,000. Geneos Wealth Management Inc. bought a new position in Range Resources in the 4th quarter worth $46,000. Finally, Versant Capital Management Inc lifted its position in Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the last quarter. 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.