Range Resources (NYSE:RRC) Price Target Raised to $43.00

Range Resources (NYSE:RRC) had its target price lifted by The Goldman Sachs Group from $39.00 to $43.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently issued reports on RRC. Truist Financial upped their target price on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler raised their price target on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, eleven 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 has a consensus rating of “Hold” and an average price target of $38.78.

Range Resources Trading Down 0.3 %

Shares of Range Resources stock opened at $38.68 on Wednesday. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $37.17 and its 200-day moving average is $33.33. The stock has a market cap of $9.33 billion, a P/E ratio of 19.54 and a beta of 1.77.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. Range Resources’s dividend payout ratio is 16.16%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 327 shares during the last quarter. Commerce Bank raised its stake in Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after acquiring an additional 369 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Range Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock worth $268,000 after acquiring an additional 378 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Range Resources by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after purchasing an additional 379 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in shares of Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after purchasing an additional 390 shares during the last quarter. 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.