Range Resources (NYSE:RRC) Price Target Lowered to $31.00 at Susquehanna

Range Resources (NYSE:RRC) had its price objective trimmed by Susquehanna from $36.00 to $31.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Several other research analysts have also commented on RRC. Mizuho boosted their price target on Range Resources from $41.00 to $45.00 and gave the stock a buy rating in a research report on Monday, May 13th. Scotiabank raised Range Resources from a sector perform rating to a sector outperform rating and set a $45.00 price target for the company in a research report on Tuesday, August 20th. Royal Bank of Canada reiterated a sector perform rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price target on Range Resources from $37.00 to $35.00 and set an equal weight rating on the stock in a research note on Monday, July 29th. Finally, Jefferies Financial Group upped their price objective on shares of Range Resources from $34.00 to $35.00 and gave the company a hold rating in a report on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources presently has an average rating of Hold and an average price target of $36.74.

Range Resources Trading Down 0.5 %

RRC opened at $28.19 on Wednesday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 14.31 and a beta of 1.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The stock has a fifty day moving average price of $31.33 and a 200-day moving average price of $33.65.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. As a group, equities research analysts anticipate that Range Resources will post 2.08 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Benjamin F. Edwards & Company Inc. increased its holdings in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 666 shares in the last quarter. Fifth Third Bancorp increased its holdings 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 valued at $57,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co purchased a new position in Range Resources in the second quarter valued at $67,000. International Assets Investment Management LLC purchased a new position in Range Resources in the second quarter valued at $67,000. Finally, Private Wealth Management Group LLC purchased a new position in Range Resources in the fourth quarter valued at $73,000. 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.