Jefferies Financial Group Boosts Range Resources (NYSE:RRC) Price Target to $34.00

Range Resources (NYSE:RRC) had its target price boosted by Jefferies Financial Group from $32.00 to $34.00 in a report published on Thursday, Benzinga reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus increased their price target on Range Resources from $36.00 to $39.00 and gave the stock a buy rating in a report on Tuesday, April 23rd. StockNews.com raised shares of Range Resources to a sell rating in a report on Wednesday, March 13th. Susquehanna boosted their price target on shares of Range Resources from $34.00 to $36.00 and gave the stock a neutral rating in a research note on Monday, April 22nd. Citigroup raised their price objective on shares of Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Finally, Barclays assumed coverage on Range Resources in a research report on Wednesday, April 10th. They set an underweight rating and a $35.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Range Resources presently has an average rating of Hold and a consensus target price of $36.62.

Range Resources Trading Up 2.1 %

Shares of Range Resources stock opened at $35.71 on Thursday. The company’s fifty day moving average is $34.23 and its two-hundred day moving average is $32.46. Range Resources has a 1 year low of $23.92 and a 1 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 company has a market capitalization of $8.66 billion, a P/E ratio of 18.13 and a beta of 1.85.

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

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.90%. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Activity at Range Resources

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. purchased a new stake in Range Resources in the 3rd quarter valued at approximately $26,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of 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 acquiring an additional 666 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Range Resources during the third quarter valued at $27,000. Larson Financial Group LLC increased its position in Range Resources by 267.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 900 shares in the last quarter. Finally, Fifth Third Bancorp raised 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 purchasing an additional 490 shares during the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.