Mizuho Issues Positive Forecast for Range Resources (NYSE:RRC) Stock Price

Range Resources (NYSE:RRC) had its price target hoisted by Mizuho from $45.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the oil and gas exploration company’s stock.

Several other analysts have also recently commented on the company. Barclays lowered their target price on Range Resources from $43.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Piper Sandler lowered their price target on Range Resources from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. StockNews.com upgraded Range Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Finally, Stephens reiterated an “overweight” rating and set a $49.00 price target on shares of Range Resources in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $41.85.

Range Resources Trading Up 4.2%

NYSE:RRC opened at $40.62 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $36.33 and its two-hundred day moving average is $36.22. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a market cap of $9.71 billion, a PE ratio of 20.52, a P/E/G ratio of 5.11 and a beta of 0.60.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS 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 the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter last year, the business posted $0.63 EPS. On average, analysts predict that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, March 14th. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is 32.14%.

Insider Transactions at Range Resources

In other news, Director James M. Funk sold 13,582 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the sale, the director now owns 54,394 shares of the company’s stock, valued at $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Range Resources

Several hedge funds and other institutional investors have recently modified their holdings of RRC. Bessemer Group Inc. boosted its position in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after purchasing an additional 315 shares during the last quarter. Xponance Inc. boosted its position in Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock valued at $1,099,000 after purchasing an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Range Resources by 0.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock valued at $2,636,000 after purchasing an additional 328 shares during the last quarter. Fifth Third Bancorp boosted its position in Range Resources by 20.6% during the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after purchasing an additional 355 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Range Resources by 5.7% during the first quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock valued at $266,000 after purchasing an additional 360 shares during the last quarter. 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.