Range Resources (NYSE:RRC) Stock Rating Reaffirmed by Mizuho

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

Other equities research analysts have also issued research reports about the company. Stephens lifted their price objective on Range Resources from $41.00 to $42.00 and gave the company an overweight rating in a report on Wednesday, April 24th. Stifel Nicolaus lifted their price target on Range Resources from $36.00 to $39.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Susquehanna increased their price objective on Range Resources from $34.00 to $36.00 and gave the stock a neutral rating in a research report on Monday, April 22nd. Royal Bank of Canada downgraded Range Resources from an outperform rating to a sector perform rating and raised their target price for the company from $36.00 to $39.00 in a report on Friday. Finally, Morgan Stanley upped their price target on shares of Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $36.65.

Range Resources Stock Up 0.1 %

Range Resources stock opened at $37.36 on Friday. The stock has a 50 day moving average of $33.94 and a two-hundred day moving average of $32.42. Range Resources has a twelve month low of $23.92 and a twelve month high of $38.25. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 18.96 and a beta of 1.83. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The business had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, research analysts expect that Range Resources will post 2 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Activity at Range Resources

In related 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 value of $603,169.50. Following the completion of the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. National Bank of Canada FI boosted its position in shares of Range Resources by 970.0% in the third quarter. National Bank of Canada FI now owns 3,210 shares of the oil and gas exploration company’s stock worth $98,000 after acquiring an additional 2,910 shares during the last quarter. SG Americas Securities LLC raised its position in Range Resources by 90.2% in the third quarter. SG Americas Securities LLC now owns 7,940 shares of the oil and gas exploration company’s stock valued at $257,000 after purchasing an additional 3,766 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Range Resources by 46.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 23,440 shares of the oil and gas exploration company’s stock worth $760,000 after purchasing an additional 7,405 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Range Resources by 78.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 28,608 shares of the oil and gas exploration company’s stock worth $927,000 after buying an additional 12,617 shares during the period. Finally, Ceredex Value Advisors LLC grew its stake in shares of Range Resources by 8.7% in the third quarter. Ceredex Value Advisors LLC now owns 465,850 shares of the oil and gas exploration company’s stock valued at $15,098,000 after buying an additional 37,100 shares in the last quarter. Hedge funds and other 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.