Range Resources (NYSE:RRC) PT Lowered to $45.00 at Mizuho

Range Resources (NYSE:RRC) had its price target reduced by Mizuho from $47.00 to $45.00 in a report issued on Monday, Benzinga reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of Range Resources from $37.00 to $31.00 and set an underweight rating for the company in a research note on Thursday, September 12th. Wolfe Research assumed coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Wells Fargo & Company reduced their price objective on shares of Range Resources from $37.00 to $35.00 and set an equal weight rating for the company in a research note on Monday, July 29th. Piper Sandler lowered shares of Range Resources from an overweight rating to a neutral rating and reduced their price objective for the company from $43.00 to $31.00 in a research note on Thursday, August 15th. Finally, Susquehanna reduced their price objective on shares of Range Resources from $36.00 to $31.00 and set a neutral rating for the company in a research note on Wednesday, September 4th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Range Resources currently has an average rating of Hold and an average target price of $36.10.

Range Resources Trading Up 1.6 %

NYSE:RRC opened at $29.99 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $7.28 billion, a PE ratio of 15.22 and a beta of 1.80. The firm’s 50 day moving average is $30.63 and its 200 day moving average is $33.55. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the previous year, the firm posted $0.27 EPS. Range Resources’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Range Resources will post 2.07 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.24%.

Institutional Trading of Range Resources

Several hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after purchasing an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its stake in Range Resources by 17.9% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after purchasing an additional 350 shares during the last quarter. Orser Capital Management LLC raised its stake in shares of Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its stake in shares of Range Resources by 6.0% during the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after acquiring an additional 600 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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.