Range Resources (RRC) PT Raised to $19.00

Range Resources (NYSE:RRC) had its target price increased by TD Securities from $18.00 to $19.00 in a report published on Wednesday morning. They currently have a hold rating on the oil and gas exploration company’s stock.

Several other research analysts have also weighed in on RRC. Piper Jaffray Companies set a $29.00 price objective on shares of Range Resources and gave the stock a buy rating in a research note on Tuesday, October 23rd. B. Riley boosted their price objective on shares of Range Resources from $22.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, October 18th. Royal Bank of Canada set a $21.00 price objective on shares of Range Resources and gave the stock a buy rating in a research note on Thursday, September 20th. KLR Group restated a buy rating and set a $23.00 price objective on shares of Range Resources in a research note on Monday, August 20th. Finally, Macquarie set a $18.00 price objective on shares of Range Resources and gave the stock a hold rating in a research note on Wednesday, September 26th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $22.60.

Shares of RRC stock opened at $15.84 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Range Resources has a 1 year low of $11.93 and a 1 year high of $19.38. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.19 and a beta of 0.57.



Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. Range Resources had a net margin of 8.28% and a return on equity of 4.85%. The firm had revenue of $811.20 million for the quarter, compared to analyst estimates of $747.06 million. During the same period in the previous year, the business earned $0.05 EPS. The company’s revenue was up 68.2% compared to the same quarter last year. Research analysts expect that Range Resources will post 1.03 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a $0.02 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.51%. Range Resources’s dividend payout ratio (DPR) is currently 13.79%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Range Resources by 26.4% in the 2nd quarter. BlackRock Inc. now owns 19,759,391 shares of the oil and gas exploration company’s stock valued at $330,575,000 after buying an additional 4,132,913 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Range Resources by 12.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,997,480 shares of the oil and gas exploration company’s stock valued at $150,530,000 after buying an additional 1,014,157 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its stake in Range Resources by 54.6% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after buying an additional 2,058,057 shares during the last quarter. Fisher Asset Management LLC grew its stake in Range Resources by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,804,874 shares of the oil and gas exploration company’s stock valued at $47,655,000 after buying an additional 93,872 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Range Resources by 34.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,521,453 shares of the oil and gas exploration company’s stock valued at $42,184,000 after buying an additional 640,077 shares during the last quarter.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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