Range Resources (NYSE:RRC) Given New $40.00 Price Target at Mizuho

Range Resources (NYSE:RRC) had its price objective lowered by Mizuho from $45.00 to $40.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas exploration company’s stock.

A number of other research analysts have also weighed in on RRC. Wolfe Research started coverage on shares of Range Resources in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Jefferies Financial Group boosted their price objective on Range Resources from $34.00 to $35.00 and gave the stock a hold rating in a research note on Monday, July 8th. Susquehanna cut their target price on Range Resources from $36.00 to $31.00 and set a neutral rating for the company in a research note on Wednesday, September 4th. UBS Group lowered their price target on shares of Range Resources from $30.00 to $27.00 and set a sell rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley cut their price objective on shares of Range Resources from $33.00 to $31.00 and set an underweight rating for the company in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $35.41.

Range Resources Stock Up 0.8 %

Shares of RRC opened at $31.42 on Wednesday. The stock has a 50 day moving average price of $30.10 and a 200 day moving average price of $33.34. Range Resources has a one year low of $27.29 and a one year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.95 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Equities research analysts forecast that Range Resources will post 1.88 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp boosted 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 purchasing an additional 299 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Range Resources in the 2nd quarter valued at about $67,000. International Assets Investment Management LLC purchased a new position in shares of Range Resources in the 2nd quarter valued at about $67,000. CWM LLC grew its position in shares of Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 1,694 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Range Resources in the second quarter valued at approximately $107,000. Institutional investors and hedge funds 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.