Range Resources (NYSE:RRC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Range Resources (NYSE:RRC) had its price target hoisted by Piper Sandler from $30.00 to $32.00 in a report released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas exploration company’s stock.

RRC has been the topic of several other research reports. Royal Bank of Canada restated a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial increased their price target on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, UBS Group upgraded shares of Range Resources from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $35.00 in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.00.

Range Resources Stock Down 1.6 %

Shares of RRC opened at $36.97 on Wednesday. The business’s 50 day simple moving average is $36.54 and its 200-day simple moving average is $32.93. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a market capitalization of $8.92 billion, a P/E ratio of 18.67 and a beta of 1.81. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. Range Resources’s payout ratio is currently 16.16%.

Institutional Trading of Range Resources

Hedge funds have recently modified their holdings of the company. M&T Bank Corp grew its holdings in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 327 shares during the period. Commerce Bank boosted its position in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock worth $211,000 after purchasing an additional 369 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Range Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after buying an additional 378 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Range Resources by 0.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 66,630 shares of the oil and gas exploration company’s stock valued at $2,397,000 after buying an additional 420 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 426 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.