Range Resources (NYSE:RRC) Earns “Buy” Rating from Mizuho

Mizuho restated their buy rating on shares of Range Resources (NYSE:RRC) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $39.00 target price on the oil and gas exploration company’s stock.

A number of other analysts have also weighed in on RRC. Truist Financial reduced their price objective on shares of Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a research report on Friday, April 5th. Raymond James decreased their price target on Range Resources from $37.00 to $36.00 and set an outperform rating for the company in a research note on Wednesday, January 24th. Scotiabank cut Range Resources from a sector outperform rating to a sector perform rating and boosted their price objective for the company from $40.00 to $45.00 in a report on Thursday. Royal Bank of Canada reiterated an outperform rating and issued a $36.00 target price on shares of Range Resources in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company downgraded Range Resources from an overweight rating to an equal weight rating and decreased their target price for the stock from $40.00 to $32.00 in a research report on Thursday, December 14th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $35.25.

Range Resources Stock Performance

NYSE:RRC opened at $36.01 on Thursday. The firm has a market capitalization of $8.72 billion, a PE ratio of 10.17 and a beta of 1.83. The stock’s fifty day moving average is $32.35 and its 200 day moving average is $32.14. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $37.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49.

Range Resources (NYSE:RRC) last announced its earnings results on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.21. The business had revenue of $941.40 million for the quarter, compared to the consensus estimate of $672.25 million. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The business’s revenue for the quarter was down 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, sell-side analysts anticipate that Range Resources will post 1.92 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. Stockholders of record on Friday, March 15th were paid 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 0.89%. Range Resources’s dividend payout ratio is presently 9.04%.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently bought and sold shares of RRC. Raleigh Capital Management Inc. bought a new stake in Range Resources during the 3rd quarter valued at $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Range Resources during the 3rd quarter worth $27,000. Benjamin F. Edwards & Company Inc. boosted its position in Range Resources by 333.0% during 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. Lazard Asset Management LLC purchased a new position in Range Resources in the second quarter valued at about $28,000. Finally, Proffitt & Goodson Inc. bought a new position in Range Resources in the third quarter worth about $32,000. Institutional investors own 98.93% of the company’s stock.

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.