Range Resources Corporation (NYSE:RRC) Receives Consensus Recommendation of “Hold” from Analysts

Range Resources Corporation (NYSE:RRC) has received an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.2222.

A number of analysts have issued reports on RRC shares. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada reduced their price objective on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. Morgan Stanley lowered their target price on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Bank of America reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Finally, Wells Fargo & Company set a $43.00 price target on Range Resources and gave the stock an “equal weight” rating in a research note on Monday, January 12th.

Range Resources Stock Up 1.0%

Shares of Range Resources stock opened at $36.51 on Thursday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 0.33 and a beta of 0.58. The stock has a 50-day simple moving average of $35.97 and a 200-day simple moving average of $36.08. Range Resources has a 52-week low of $30.32 and a 52-week high of $43.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 12th. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Institutional Trading of Range Resources

Several large investors have recently modified their holdings of the company. Hantz Financial Services Inc. grew its stake in Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 703 shares during the last quarter. True Wealth Design LLC grew its position in shares of Range Resources by 116.3% in the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 541 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Range Resources in the second quarter worth about $45,000. Finally, Allworth Financial LP lifted its position in shares of Range Resources by 196.5% during the 2nd quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 731 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

Range Resources Company Profile

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.