Range Resources (NYSE:RRC) Given New $43.00 Price Target at The Goldman Sachs Group

Range Resources (NYSE:RRC) had its price target upped by The Goldman Sachs Group from $39.00 to $43.00 in a research note released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas exploration company’s stock.

Several other research firms have also recently commented on RRC. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised shares of Range Resources from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $35.00 in a report on Monday, December 9th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company upped their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.44.

Range Resources Stock Down 2.9 %

Shares of Range Resources stock opened at $38.43 on Wednesday. The company has a fifty day moving average price of $36.99 and a 200 day moving average price of $33.24. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 19.41 and a beta of 1.77.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. Range Resources’s dividend payout ratio is presently 16.16%.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in RRC. Brooklyn Investment Group acquired a new position in shares of Range Resources during the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 87.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 471 shares during the period. UMB Bank n.a. raised its stake in shares of Range Resources by 59.0% in 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at $42,000. Finally, Blue Trust Inc. grew its holdings in Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares during the period. 98.93% of the stock is currently owned by institutional investors.

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.