Range Resources (NYSE:RRC) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Range Resources (NYSE:RRC) from a sector perform rating to a sector outperform rating in a research report report published on Tuesday, Marketbeat.com reports. They currently have $45.00 target price on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other reports. Stifel Nicolaus upped their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Wells Fargo & Company decreased their price objective on 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. Wolfe Research assumed coverage on Range Resources in a research note on Thursday, July 18th. They set a peer perform rating for the company. Piper Sandler lowered shares of Range Resources from an overweight rating to a neutral rating and lowered their price objective for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Stephens upped their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, April 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Range Resources has an average rating of Hold and an average target price of $37.11.

Range Resources Trading Up 1.3 %

NYSE RRC opened at $30.57 on Tuesday. The firm’s fifty day moving average price is $32.37 and its 200 day moving average price is $33.61. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 15.53 and a beta of 1.88.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate 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 return on equity of 13.93% and a net margin of 17.62%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, sell-side analysts expect that Range Resources will post 2.08 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

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. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 1.05%. Range Resources’s payout ratio is currently 16.24%.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its stake in shares of Range Resources by 21.2% during 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 acquiring an additional 299 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its stake in shares of Range Resources by 17.9% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Range Resources by 5.4% during the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after buying an additional 350 shares in the last quarter. Orser Capital Management LLC raised its position in shares of Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT lifted its stake in shares of Range Resources by 4.3% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after buying an additional 431 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.