Jefferies Financial Group Raises Range Resources (NYSE:RRC) Price Target to $35.00

Range Resources (NYSE:RRC) had its target price hoisted by Jefferies Financial Group from $34.00 to $35.00 in a research report report published on Monday morning, Benzinga reports. They currently have a hold rating on the oil and gas exploration company’s stock.

A number of other equities analysts also recently commented on RRC. Barclays began coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an underweight rating and a $35.00 target price on the stock. Stephens upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock an overweight rating in a research note on Wednesday, April 24th. Scotiabank downgraded shares of Range Resources from a sector outperform rating to a sector perform rating and upped their target price for the stock from $40.00 to $45.00 in a research note on Thursday, April 11th. Benchmark restated a hold rating on shares of Range Resources in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada downgraded shares of Range Resources from an outperform rating to a sector perform rating and upped their target price for the stock from $36.00 to $39.00 in a research note on Friday, April 26th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $37.15.

Range Resources Stock Performance

Shares of NYSE:RRC opened at $33.94 on Monday. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 17.23 and a beta of 1.87. Range Resources has a 12 month low of $27.60 and a 12 month high of $39.33. The firm’s 50-day moving average is $35.72 and its 200 day moving average is $33.35. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.46.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. Research analysts predict that Range Resources will post 2.12 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, June 14th. Range Resources’s dividend payout ratio is presently 16.24%.

Insiders Place Their Bets

In other Range Resources news, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Range Resources news, CEO Dennis Degner sold 101,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $37.78, for a total transaction of $3,815,780.00. Following the sale, the chief executive officer now owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Reginal Spiller sold 1,460 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the sale, the director now directly owns 15,253 shares in the company, valued at approximately $589,986.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,107 shares of company stock valued at $7,379,095. Insiders own 2.50% of the company’s stock.

Institutional Trading of Range Resources

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after acquiring an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Boston Partners boosted its holdings in shares of Range Resources by 2.1% in the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after acquiring an additional 133,565 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Range Resources by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after acquiring an additional 90,028 shares during the last quarter. Finally, Kopernik Global Investors LLC lifted its stake in shares of Range Resources by 2.7% in the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock valued at $94,562,000 after purchasing an additional 82,095 shares during the period. 98.93% of the stock is owned by hedge funds and other 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.