UBS Group Cuts Range Resources (NYSE:RRC) Price Target to $27.00

Range Resources (NYSE:RRC) had its target price trimmed by UBS Group from $30.00 to $27.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a sell rating on the oil and gas exploration company’s stock.

Several other brokerages also recently weighed in on RRC. Mizuho lowered their target price on Range Resources from $47.00 to $45.00 and set an outperform rating for the company in a research note on Monday, September 16th. Benchmark reaffirmed a hold rating on shares of Range Resources in a research report on Wednesday, July 24th. Wells Fargo & Company decreased their price target on shares of Range Resources from $37.00 to $35.00 and set an equal weight rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group cut their price target on shares of Range Resources from $40.00 to $35.00 and set a neutral rating on the stock in a report on Friday, September 6th. Finally, Wolfe Research initiated coverage on shares of Range Resources in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $36.10.

Range Resources Price Performance

Shares of NYSE RRC opened at $30.61 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The business has a 50-day moving average of $30.49 and a 200-day moving average of $33.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $641.30 million for 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 business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Range Resources will post 2.07 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. TFO Wealth Partners LLC grew its position in Range Resources by 302,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 21,187 shares of the oil and gas exploration company’s stock valued at $645,000 after buying an additional 21,180 shares in the last quarter. DRW Securities LLC boosted its holdings in shares of Range Resources by 150.0% in the fourth quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock valued at $1,522,000 after acquiring an additional 30,000 shares in the last quarter. Norden Group LLC increased its stake in shares of Range Resources by 1,599.9% during the first quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock valued at $5,154,000 after acquiring an additional 140,891 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Range Resources by 11.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after purchasing an additional 16,619 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in Range Resources by 39.1% in the fourth quarter. Bridgewater Associates LP now owns 528,042 shares of the oil and gas exploration company’s stock worth $16,074,000 after purchasing an additional 148,550 shares during the period. 98.93% of the stock is 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.