UBS Group Cuts Range Resources (NYSE:RRC) Price Target to $36.00

Range Resources (NYSE:RRC) had its price objective reduced by UBS Group from $41.00 to $36.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

A number of other analysts have also recently issued reports on the company. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a report on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their price target on shares of Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. StockNews.com raised Range Resources from a “sell” rating to a “hold” rating in a research report on Saturday, April 5th. Finally, Stephens set a $51.00 target price on Range Resources and gave the company an “overweight” rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $41.71.

Range Resources Trading Up 7.8 %

NYSE RRC opened at $34.60 on Monday. The company has a market cap of $8.35 billion, a P/E ratio of 17.47, a P/E/G ratio of 5.11 and a beta of 1.73. Range Resources has a 12 month low of $27.29 and a 12 month 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. The company has a 50-day moving average of $37.89 and a 200-day moving average of $35.56.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share 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 net margin of 17.63% and a return on equity of 13.69%. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, equities analysts predict that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 1.04%. Range Resources’s dividend payout ratio is 32.73%.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares during the period. UMB Bank n.a. increased its position in shares of Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after purchasing an additional 426 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Range Resources in the fourth quarter valued at $42,000. Geneos Wealth Management Inc. bought a new position in Range Resources during the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc grew its holdings in Range Resources by 42.8% during the fourth quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the period. Institutional investors 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.