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

Range Resources (NYSE:RRC) had its target price reduced by UBS Group from $30.00 to $27.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a sell rating on the oil and gas exploration company’s stock.

RRC has been the subject of a number of other reports. Susquehanna decreased their price target on Range Resources from $36.00 to $31.00 and set a neutral rating for the company in a report on Wednesday, September 4th. 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 note on Tuesday, August 20th. Piper Sandler downgraded Range Resources from an overweight rating to a neutral rating and reduced their target price for the stock from $43.00 to $31.00 in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their target price on Range Resources from $40.00 to $35.00 and set a neutral rating for the company in a research note on Friday, September 6th. Finally, Jefferies Financial Group upped their target price on Range Resources from $34.00 to $35.00 and gave the stock a hold rating in a research note on Monday, July 8th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $36.10.

Range Resources Trading Up 0.3 %

Range Resources stock opened at $30.61 on Wednesday. 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 $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The stock has a 50-day moving average price of $30.40 and a 200 day moving average price of $33.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings results 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. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same period in the previous year, the company posted $0.27 earnings per share. Range Resources’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Range Resources will post 2.07 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s payout ratio is currently 16.24%.

Institutional Trading of Range Resources

Large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Range Resources by 21.2% during the 2nd 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 purchased a new position in shares of Range Resources in the 2nd quarter valued at about $67,000. International Assets Investment Management LLC purchased a new position in shares of Range Resources in the 2nd quarter valued at about $67,000. SYSTM Wealth Solutions LLC increased its holdings in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Range Resources during the 2nd quarter worth approximately $107,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

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.