Stephens Increases Range Resources (NYSE:RRC) Price Target to $37.00

Range Resources (NYSE:RRC) had its target price upped by Stephens from $36.00 to $37.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. UBS Group decreased their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Mizuho cut their price target on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Susquehanna decreased their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company raised shares of Range Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $39.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.12.

Range Resources Stock Up 3.4 %

RRC opened at $30.93 on Wednesday. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 15.70 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50-day moving average of $30.19 and a two-hundred day moving average of $33.09.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.32 by $0.16. The firm had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. Range Resources’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. On average, research analysts expect that Range Resources will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.57% of the stock is owned by company insiders.

Institutional Trading of Range Resources

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 705 shares during the last quarter. Bogart Wealth LLC acquired a new position in Range Resources in the third quarter worth about $49,000. Fifth Third Bancorp increased its holdings in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in Range Resources during the second quarter valued at approximately $67,000. Finally, International Assets Investment Management LLC bought a new position in Range Resources during the 2nd quarter worth approximately $67,000. 98.93% of the stock is owned by institutional investors and hedge funds.

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.