Range Resources (NYSE:RRC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Range Resources (NYSE:RRC) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Several other research analysts have also recently issued reports on RRC. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group raised their price objective on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stephens raised their price target on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Mizuho boosted their price target on shares of Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.89.

Range Resources Stock Performance

Shares of RRC stock opened at $38.86 on Thursday. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The firm has a market capitalization of $9.38 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The firm has a fifty day simple moving average of $38.56 and a two-hundred day simple moving average of $35.05. 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 (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the business posted $0.63 EPS. Analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.93%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Institutional Investors Weigh In On Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Wellington Management Group LLP bought a new stake in shares of Range Resources in the fourth quarter valued at approximately $33,684,000. Wealth Enhancement Advisory Services LLC grew its stake in Range Resources by 23.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,094 shares of the oil and gas exploration company’s stock valued at $327,000 after buying an additional 1,756 shares in the last quarter. Forum Financial Management LP raised its holdings in Range Resources by 19.1% during the 4th quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company’s stock valued at $289,000 after acquiring an additional 1,293 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Range Resources during the fourth quarter worth $2,645,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Range Resources in the fourth quarter worth $3,001,000. 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.