Range Resources (NYSE:RRC) Stock Price Expected to Rise, Stephens Analyst Says

Range Resources (NYSE:RRC) had its price target upped by Stephens from $39.00 to $43.00 in a research report report published on Wednesday,Benzinga reports. Stephens currently has an overweight rating on the oil and gas exploration company’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial increased their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $35.00 in a research note on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company upped their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.00.

Range Resources Stock Performance

Shares of NYSE RRC opened at $36.97 on Wednesday. The stock has a market cap of $8.92 billion, a PE ratio of 18.67 and a beta of 1.81. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a fifty day moving average price of $36.54 and a 200-day moving average price of $32.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued 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 yield of 0.87%. Range Resources’s payout ratio is presently 16.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RRC. M&T Bank Corp raised its stake in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after acquiring an additional 327 shares during the period. Commerce Bank grew its holdings in Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the last quarter. CIBC Asset Management Inc raised its position in Range Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock worth $268,000 after purchasing an additional 378 shares during the period. Nisa Investment Advisors LLC lifted its stake in Range Resources by 0.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock worth $2,397,000 after purchasing an additional 420 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.