Truist Financial Raises Range Resources (NYSE:RRC) Price Target to $32.00

Range Resources (NYSE:RRC) had its price target upped by Truist Financial from $29.00 to $32.00 in a research report released on Monday, Marketbeat reports. Truist Financial currently has a hold rating on the oil and gas exploration company’s stock.

RRC has been the subject of several other research reports. Susquehanna lifted their price target on Range Resources from $35.00 to $36.00 in a research note on Wednesday, July 26th. Stifel Nicolaus increased their price target on shares of Range Resources from $33.00 to $34.00 and gave the company a buy rating in a research report on Friday, August 11th. StockNews.com raised shares of Range Resources from a sell rating to a hold rating in a research note on Friday, September 1st. VNET Group reaffirmed an upgrade rating on shares of Range Resources in a report on Friday, May 19th. Finally, Stephens reissued an overweight rating and issued a $34.00 price target on shares of Range Resources in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $34.33.

Range Resources Stock Performance

Shares of RRC opened at $33.27 on Monday. Range Resources has a 12-month low of $22.61 and a 12-month high of $34.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.52. The company has a market cap of $8.01 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 0.58 and a beta of 2.12. The stock has a 50-day moving average price of $31.47 and a 200-day moving average price of $28.46.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Monday, July 24th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Range Resources had a net margin of 37.22% and a return on equity of 31.85%. The firm had revenue of $637.00 million for the quarter, compared to analyst estimates of $567.67 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was down 48.0% compared to the same quarter last year. As a group, equities analysts forecast that Range Resources will post 1.96 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 0.96%. Range Resources’s dividend payout ratio (DPR) is presently 4.66%.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new position in shares of Range Resources in the 2nd quarter worth approximately $28,000. Belpointe Asset Management LLC bought a new position in Range Resources in the fourth quarter worth $40,000. Ameritas Advisory Services LLC purchased a new position in Range Resources during the first quarter valued at $42,000. International Assets Investment Management LLC bought a new stake in shares of Range Resources during the 1st quarter valued at $53,000. Finally, Clear Street Markets LLC purchased a new stake in shares of Range Resources in the 1st quarter worth about $53,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.