Range Resources (RRC) – Investment Analysts’ Weekly Ratings Changes

Range Resources (NYSE: RRC) has recently received a number of price target changes and ratings updates:

• 4/30/2024 – Range Resources had its price target raised by analysts at Piper Sandler from $41.00 to $43.00. They now have an “overweight” rating on the stock.
• 4/26/2024 – Range Resources was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $39.00 price target on the stock, up previously from $36.00.
• 4/26/2024 – Range Resources had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $41.00 price target on the stock, up previously from $39.00.
• 4/24/2024 – Range Resources had its price target raised by analysts at Stephens from $41.00 to $42.00. They now have an “overweight” rating on the stock.
• 4/24/2024 – Range Resources had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 4/23/2024 – Range Resources had its price target raised by analysts at Stifel Nicolaus from $36.00 to $39.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Range Resources had its price target raised by analysts at Susquehanna from $34.00 to $36.00. They now have a “neutral” rating on the stock.
• 4/19/2024 – Range Resources had its price target raised by analysts at Piper Sandler from $40.00 to $41.00. They now have an “overweight” rating on the stock.
• 4/17/2024 – Range Resources had its price target raised by analysts at Morgan Stanley from $23.00 to $33.00. They now have an “underweight” rating on the stock.
• 4/11/2024 – Range Resources was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating. They now have a $45.00 price target on the stock, up previously from $40.00.
• 4/11/2024 – Range Resources had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $39.00 price target on the stock.
• 4/10/2024 – Range Resources is now covered by analysts at Barclays PLC. They set an “underweight” rating and a $35.00 price target on the stock.
• 4/9/2024 – Range Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $36.00 price target on the stock.
• 4/5/2024 – Range Resources had its price target lowered by analysts at Truist Financial Co. from $32.00 to $30.00. They now have a “hold” rating on the stock.
• 4/3/2024 – Range Resources had its price target raised by analysts at Citigroup Inc. from $33.00 to $37.00. They now have a “neutral” rating on the stock.
• 3/28/2024 – Range Resources had its price target raised by analysts at Morgan Stanley from $22.00 to $23.00. They now have an “underweight” rating on the stock.
• 3/13/2024 – Range Resources was upgraded by analysts at StockNews.com to a “sell” rating.
• 3/13/2024 – Range Resources had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $39.00 price target on the stock, up previously from $37.00.
• 3/7/2024 – Range Resources had its price target lowered by analysts at Piper Sandler from $42.00 to $40.00. They now have an “overweight” rating on the stock.
• 3/5/2024 – Range Resources had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $36.00 price target on the stock.

Range Resources Stock Down 3.8 %

RRC opened at $34.55 on Thursday. Range Resources Co. has a one year low of $23.92 and a one year high of $38.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $8.38 billion, a P/E ratio of 17.54 and a beta of 1.83. The business’s 50-day simple moving average is $34.04 and its 200-day simple moving average is $32.42.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. Analysts anticipate that Range Resources Co. will post 2 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Insider Transactions at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Range Resources

A number of hedge funds have recently added to or reduced their stakes in RRC. Raleigh Capital Management Inc. purchased a new position in Range Resources in the third quarter worth $26,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Range Resources in the 3rd quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. increased its stake in Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 666 shares in the last quarter. Larson Financial Group LLC grew its holdings in Range Resources by 267.9% in the third quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 900 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Range Resources by 57.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.