Range Resources Corporation (NYSE:RRC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Range Resources Corporation (NYSE:RRC) have received a consensus recommendation of “Hold” from the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $43.3333.

A number of research firms have issued reports on RRC. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 24th. Zacks Research cut shares of Range Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. The Goldman Sachs Group reduced their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 2nd. Finally, Stephens set a $53.00 price target on shares of Range Resources in a report on Tuesday, June 23rd.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Seelaus Asset Management LLC raised its position in Range Resources by 2.6% in the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after purchasing an additional 250 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Range Resources by 13.0% in the fourth quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 279 shares during the period. Pinnacle Associates Ltd. increased its stake in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 302 shares during the period. Finally, Confluence Wealth Services Inc. raised its holdings in Range Resources by 3.2% in the 4th quarter. Confluence Wealth Services Inc. now owns 10,199 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $37.75 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 9.99 and a beta of 0.41. The firm’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $39.22. Range Resources has a 1 year low of $32.60 and a 1 year high of $48.31.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same period in the previous year, the business earned $0.96 earnings per share. The company’s revenue was up 49.8% on a year-over-year basis. As a group, research analysts expect that Range Resources will post 3.6 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Range Resources’s dividend payout ratio is 10.58%.

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.