Susquehanna Raises Range Resources (NYSE:RRC) Price Target to $36.00

Range Resources (NYSE:RRC) had its target price lifted by Susquehanna from $34.00 to $36.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Several other equities analysts also recently commented on RRC. Benchmark downgraded shares of Range Resources from a buy rating to a hold rating in a research note on Thursday, January 11th. Citigroup increased their price objective on shares of Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Piper Sandler increased their price objective on shares of Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Mizuho restated a buy rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Finally, Raymond James reduced their price target on shares of Range Resources from $37.00 to $36.00 and set an outperform rating for the company in a report on Wednesday, January 24th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $36.40.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $37.77 on Monday. The company’s 50 day moving average price is $33.52 and its two-hundred day moving average price is $32.37. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.89. The firm has a market cap of $9.14 billion, a PE ratio of 10.67 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC) last issued its quarterly 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. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the firm posted $0.96 EPS. The firm’s quarterly revenue was down 15.7% on a year-over-year basis. Equities research analysts predict that Range Resources will post 1.9 earnings per share for the current 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 given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.85%. Range Resources’s payout ratio is currently 9.04%.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. National Bank of Canada FI boosted its position in Range Resources by 970.0% during the 3rd quarter. National Bank of Canada FI now owns 3,210 shares of the oil and gas exploration company’s stock valued at $98,000 after buying an additional 2,910 shares during the period. SG Americas Securities LLC boosted its position in Range Resources by 90.2% during the 3rd quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock valued at $257,000 after buying an additional 3,766 shares during the period. Impact Partnership Wealth LLC purchased a new stake in Range Resources during the 3rd quarter valued at $128,000. Private Wealth Advisors LLC purchased a new stake in Range Resources during the 3rd quarter valued at $2,264,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Range Resources in the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

About Range Resources

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.