Range Resources Co. (NYSE:RRC) Given Average Recommendation of “Hold” by Analysts

Shares of Range Resources Co. (NYSE:RRC) have received an average rating of “Hold” from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $41.50.

Several analysts recently issued reports on the company. Truist Financial lifted their target price on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, March 17th. Roth Mkm raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $41.00 to $42.00 in a report on Tuesday, April 8th. UBS Group raised their target price on shares of Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Susquehanna decreased their price target on shares of Range Resources from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in RRC. Hollencrest Capital Management purchased a new stake in shares of Range Resources in the first quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its stake in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 471 shares during the period. Bessemer Group Inc. lifted its position in shares of Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Range Resources during the first quarter valued at $39,000. Finally, UMB Bank n.a. grew its holdings in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of NYSE RRC opened at $35.07 on Tuesday. The stock has a market cap of $8.38 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a fifty day moving average price of $36.25 and a 200-day moving average price of $35.98. 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 (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same quarter in the prior year, the business posted $0.63 EPS. Equities analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.03%. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio is presently 32.14%.

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.