Range Resources (NYSE:RRC) Given New $39.00 Price Target at Stifel Nicolaus

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

A number of other research firms have also issued reports on RRC. Barclays started coverage on Range Resources in a research report on Wednesday, April 10th. They issued an underweight rating and a $35.00 price target for the company. StockNews.com upgraded Range Resources to a sell rating in a research report on Wednesday, March 13th. Benchmark lowered Range Resources from a buy rating to a hold rating in a research report on Thursday, January 11th. Susquehanna upped their price objective on Range Resources from $34.00 to $36.00 and gave the company a neutral rating in a report on Monday. Finally, Raymond James decreased their price objective on Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Range Resources currently has an average rating of Hold and a consensus price target of $36.00.

Range Resources Price Performance

NYSE:RRC opened at $36.59 on Tuesday. Range Resources has a 12 month low of $23.92 and a 12 month high of $37.88. The stock has a 50 day moving average of $33.34 and a two-hundred day moving average of $32.33. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.86 billion, a P/E ratio of 10.33 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted 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 analysts’ consensus estimates of $0.48 by $0.21. The business had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The business’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. On average, analysts expect that Range Resources will post 1.94 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 9.04%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RRC. Raleigh Capital Management Inc. acquired a new position in Range Resources during the third quarter worth $26,000. Benjamin F. Edwards & Company Inc. increased its holdings in Range Resources by 333.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 666 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Range Resources in the 3rd quarter valued at about $27,000. Proffitt & Goodson Inc. purchased a new position in shares of Range Resources in the 3rd quarter valued at about $32,000. Finally, Larson Financial Group LLC boosted its stake in shares of Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 900 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.