Range Resources’ (RRC) Neutral Rating Reiterated at Bank of America

Bank of America restated their neutral rating on shares of Range Resources (NYSE:RRC) in a report published on Friday morning, Marketbeat reports. Bank of America currently has a $38.00 price objective on the oil and gas exploration company’s stock, down from their previous price objective of $44.00.

RRC has been the subject of several other research reports. Morgan Stanley decreased their target price on Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. JPMorgan Chase & Co. restated an “underweight” rating and set a $39.00 price objective (down previously from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Piper Sandler reduced their target price on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Finally, Wells Fargo & Company set a $43.00 price objective on shares of Range Resources and gave the stock an “equal weight” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $41.37.

Range Resources Stock Up 2.4%

Range Resources stock opened at $34.42 on Friday. The company has a market capitalization of $8.16 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.24 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The firm has a 50 day moving average price of $36.53 and a 200 day moving average price of $36.25.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The business had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. During the same quarter last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. Research analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were given a $0.09 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Range Resources’s dividend payout ratio is currently 15.13%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank Pictet & Cie Europe AG increased its stake in Range Resources by 100.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,038,000 shares of the oil and gas exploration company’s stock worth $36,600,000 after acquiring an additional 519,000 shares during the last quarter. Foster & Motley Inc. increased its stake in Range Resources by 3.0% during the 4th quarter. Foster & Motley Inc. now owns 23,235 shares of the oil and gas exploration company’s stock worth $819,000 after buying an additional 680 shares during the period. One Plus One Wealth Management LLC acquired a new position in Range Resources in the 4th quarter worth $297,000. Cox Capital Mgt LLC lifted its holdings in Range Resources by 56.4% in the 4th quarter. Cox Capital Mgt LLC now owns 45,819 shares of the oil and gas exploration company’s stock worth $1,546,000 after buying an additional 16,532 shares in the last quarter. Finally, Canoe Financial LP boosted its position in Range Resources by 13.1% in the 4th quarter. Canoe Financial LP now owns 1,573,309 shares of the oil and gas exploration company’s stock valued at $56,261,000 after buying an additional 182,000 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.