Range Resources (NYSE:RRC) PT Raised to $39.00 at Stifel Nicolaus

Range Resources (NYSE:RRC) had its price target lifted by Stifel Nicolaus from $36.00 to $39.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their price objective on Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research note on Wednesday, April 17th. Piper Sandler boosted their price objective on Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Citigroup boosted their price objective on Range Resources from $33.00 to $37.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. Scotiabank downgraded Range Resources from a sector outperform rating to a sector perform rating and boosted their price objective for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Finally, Benchmark cut Range Resources from a buy rating to a hold rating in a report on Thursday, January 11th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $36.65.

Range Resources Price Performance

Shares of RRC opened at $37.32 on Tuesday. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 18.94 and a beta of 1.83. The stock has a 50 day moving average of $33.80 and a 200-day moving average of $32.42. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. Range Resources has a 52 week low of $23.92 and a 52 week high of $38.25.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. As a group, analysts forecast that Range Resources will post 2 EPS for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. Range Resources’s dividend payout ratio is 16.24%.

Insider Activity

In other news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raleigh Capital Management Inc. purchased a new position in Range Resources in the third quarter valued at about $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Range Resources in the third quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. grew its stake in Range Resources by 333.0% in the fourth 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. Proffitt & Goodson Inc. purchased a new position in Range Resources in the third quarter valued at about $32,000. Finally, Larson Financial Group LLC grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.