Range Resources (NYSE:RRC) PT Lowered to $31.00 at Susquehanna

Range Resources (NYSE:RRC) had its price target trimmed by Susquehanna from $36.00 to $31.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on Range Resources from $37.00 to $35.00 and set an equal weight rating on the stock in a report on Monday, July 29th. Royal Bank of Canada reaffirmed a sector perform rating and set a $39.00 target price on shares of Range Resources in a research report on Thursday, July 25th. Mizuho upped their target price on Range Resources from $41.00 to $45.00 and gave the stock a buy rating in a research report on Monday, May 13th. Benchmark reaffirmed a hold rating on shares of Range Resources in a research report on Wednesday, July 24th. Finally, Scotiabank raised Range Resources from a sector perform rating to a sector outperform rating and set a $45.00 target price for the company in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $36.74.

Range Resources Trading Down 0.5 %

NYSE:RRC opened at $28.19 on Wednesday. The stock’s 50 day moving average price is $31.33 and its 200 day moving average price is $33.67. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The company has a market capitalization of $6.84 billion, a P/E ratio of 14.31 and a beta of 1.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, research analysts forecast that Range Resources will post 2.08 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.14%. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 666 shares during the period. Fifth Third Bancorp raised its stake in 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 worth $57,000 after acquiring an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new position in Range Resources during the second quarter worth $67,000. International Assets Investment Management LLC acquired a new position in Range Resources during the second quarter worth $67,000. Finally, Private Wealth Management Group LLC acquired a new position in Range Resources during the fourth quarter worth $73,000. 98.93% of the stock is owned by institutional investors.

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.