Range Resources (NYSE:RRC) Given New $34.00 Price Target at Jefferies Financial Group

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

Several other research analysts have also recently issued reports on RRC. Morgan Stanley raised their target price on Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research report on Wednesday, April 17th. Susquehanna upped their target price on shares of Range Resources from $34.00 to $36.00 and gave the company a neutral rating in a report on Monday, April 22nd. Mizuho reiterated a buy rating and set a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Truist Financial decreased their target price on Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a report on Friday, April 5th. Finally, Citigroup raised 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. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Range Resources has an average rating of Hold and a consensus price target of $36.62.

Range Resources Stock Performance

Shares of RRC opened at $35.71 on Thursday. Range Resources has a 12 month low of $23.92 and a 12 month high of $38.25. The business’s fifty day simple moving average is $34.23 and its two-hundred day simple moving average is $32.46. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 18.13 and a beta of 1.85.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping 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 13.30% and a net margin of 17.00%. Range Resources’s revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. Research analysts anticipate that Range Resources will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.90%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction on 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 directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.57% of the company’s stock.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Glenorchy Capital Ltd purchased a new stake in shares of Range Resources in the fourth quarter worth approximately $1,799,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources during the third quarter worth $27,000. Schroder Investment Management Group boosted its stake in shares of Range Resources by 23.7% during the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Range Resources during the third quarter valued at $19,704,000. Finally, Kennedy Capital Management LLC grew its holdings in shares of Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares during the last quarter. 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.