Range Resources (NYSE:RRC) Rating Reiterated by Mizuho

Mizuho restated their buy rating on shares of Range Resources (NYSE:RRC) in a research note published on Friday, Benzinga reports. They currently have a $41.00 price target on the oil and gas exploration company’s stock, up from their prior price target of $39.00.

A number of other equities analysts also recently commented on RRC. Stifel Nicolaus lifted their price objective on shares of Range Resources from $36.00 to $39.00 and gave the stock a buy rating in a report on Tuesday. Morgan Stanley lifted their price target on shares of Range Resources from $23.00 to $33.00 and gave the company an underweight rating in a report on Wednesday, April 17th. Scotiabank downgraded shares of Range Resources from a sector outperform rating to a sector perform rating and boosted their price objective for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Raymond James cut their target price on shares of Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup upped their target price on Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $36.65.

Range Resources Stock Down 0.9 %

RRC stock opened at $37.32 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $33.80 and a 200-day simple moving average of $32.42. The company has a market capitalization of $9.05 billion, a P/E ratio of 18.94 and a beta of 1.83. Range Resources has a twelve month low of $23.92 and a twelve month high of $38.25.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million during the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. On average, equities research analysts predict 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. Investors of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is currently 16.24%.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.57% of the stock is currently owned by insiders.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Glenorchy Capital Ltd purchased a new position in shares of Range Resources during the fourth quarter valued at $1,799,000. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Range Resources in the third quarter worth $27,000. Schroder Investment Management Group raised its holdings 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 worth $14,803,000 after acquiring an additional 87,624 shares in the last quarter. Kennedy Capital Management LLC boosted its position in Range Resources by 17.7% during the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Range Resources in the third quarter valued at about $19,704,000. 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.