UBS Group Raises Range Resources (NYSE:RRC) Price Target to $41.00

Range Resources (NYSE:RRC) had its target price raised by UBS Group from $39.00 to $41.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays upped their target price on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. Mizuho lifted their target price 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. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd. Finally, Stephens lifted their price objective on Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.78.

Range Resources Price Performance

Shares of NYSE:RRC opened at $38.68 on Thursday. The stock has a market capitalization of $9.33 billion, a P/E ratio of 19.54 and a beta of 1.77. The business has a 50-day moving average of $37.17 and a two-hundred day moving average of $33.34. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. Range Resources’s dividend payout ratio is currently 16.16%.

Hedge Funds Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the business. CWM LLC increased its stake in Range Resources by 276.8% in the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 1,694 shares during the period. Creative Planning grew its stake in shares of Range Resources by 2.0% in the 3rd quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock valued at $1,745,000 after purchasing an additional 1,089 shares during the period. Blue Trust Inc. raised its holdings in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 705 shares in the last quarter. Raymond James & Associates lifted its position in shares of Range Resources by 4.2% during the 3rd quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company’s stock worth $7,999,000 after buying an additional 10,391 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Range Resources by 2,976.0% in the 3rd quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company’s stock valued at $2,000,000 after buying an additional 59,520 shares in the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.