Range Resources (NYSE:RRC) Lifted to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Range Resources (NYSE:RRC) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have $39.00 price target on the oil and gas exploration company’s stock, up from their previous price target of $35.00.

Other analysts have also issued research reports about the company. Wolfe Research began coverage on Range Resources in a research report on Thursday, July 18th. They set a peer perform rating on the stock. UBS Group cut their price objective on Range Resources from $30.00 to $27.00 and set a sell rating on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group upped their price objective on Range Resources from $34.00 to $35.00 and gave the stock a hold rating in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their price objective on Range Resources from $37.00 to $31.00 and set an underweight rating on the stock in a research report on Thursday, September 12th. Finally, Susquehanna cut their price objective on Range Resources from $36.00 to $31.00 and set a neutral rating on the stock in a research report on Wednesday, September 4th. Four research 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 MarketBeat.com, Range Resources presently has an average rating of Hold and a consensus target price of $35.50.

Range Resources Stock Up 4.3 %

Shares of NYSE RRC opened at $32.72 on Tuesday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 16.61 and a beta of 1.80. 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 has a 52-week low of $27.29 and a 52-week high of $39.33. The business’s 50 day moving average is $30.00 and its two-hundred day moving average is $33.40.

Range Resources (NYSE:RRC) last announced its 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. 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. Research analysts predict that Range Resources will post 1.87 EPS for the current year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.98%. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its stake in shares of Range Resources by 853.0% during the third quarter. SG Americas Securities LLC now owns 198,520 shares of the oil and gas exploration company’s stock worth $6,106,000 after buying an additional 177,689 shares during the period. KGH Ltd boosted its stake in shares of Range Resources by 3.2% during the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock worth $203,862,000 after buying an additional 190,000 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Range Resources during the second quarter worth about $486,000. Creative Planning boosted its stake in shares of Range Resources by 5.3% during the second quarter. Creative Planning now owns 55,655 shares of the oil and gas exploration company’s stock worth $1,866,000 after buying an additional 2,792 shares during the period. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Range Resources during the second quarter worth about $508,000. 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.