Range Resources (NYSE:RRC) Upgraded at TD Cowen

TD Cowen upgraded shares of Range Resources (NYSE:RRC) to a hold rating in a research note published on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada decreased their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $39.00 target price (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Wells Fargo & Company set a $43.00 target price on shares of Range Resources and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Finally, Piper Sandler reduced their price target on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Range Resources presently has an average rating of “Hold” and an average price target of $41.12.

Range Resources Stock Up 1.6%

Range Resources stock opened at $36.39 on Monday. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.33 and a beta of 0.58. Range Resources has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50 day moving average price of $35.68 and a two-hundred day moving average price of $36.09.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, December 12th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 15.13%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Boston Partners grew its holdings in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares in the last quarter. Invesco Ltd. boosted its holdings in Range Resources by 230.1% during the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock worth $194,644,000 after acquiring an additional 3,336,299 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock worth $91,852,000 after acquiring an additional 2,045,165 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Range Resources in the third quarter valued at about $66,560,000. Finally, UBS Group AG lifted its position in shares of Range Resources by 66.3% during the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after purchasing an additional 1,430,477 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.