Range Resources Corporation (NYSE:RRC) Receives Average Rating of “Hold” from Brokerages

Shares of Range Resources Corporation (NYSE:RRC) have received a consensus recommendation of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a 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 $42.7647.

Several research firms have issued reports on RRC. Morgan Stanley decreased their price target 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. Weiss Ratings upgraded Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research report on Friday, February 27th. Bank of America restated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Range Resources in a report on Friday, January 16th. Piper Sandler boosted their target price on Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Citigroup upped their target price on Range Resources from $36.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, March 5th.

Range Resources Price Performance

Shares of NYSE RRC opened at $46.79 on Friday. Range Resources has a twelve month low of $30.32 and a twelve month high of $47.75. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $39.42 and a two-hundred day moving average of $37.58. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.43 and a beta of 0.57.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.13. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company had revenue of $786.89 million for the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter in the previous year, the company posted $0.68 EPS. The business’s revenue was up 30.9% compared to the same quarter last year. As a group, analysts expect that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, March 13th. This is a boost from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is presently 14.60%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources during the fourth quarter valued at approximately $34,000. True Wealth Design LLC boosted its stake in Range Resources by 116.3% in the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC grew its position in Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new position in Range Resources during the 4th quarter worth approximately $57,000. Finally, Basepoint Wealth LLC acquired a new stake in Range Resources during the 4th quarter valued at $61,000. 98.93% of the stock is owned by hedge funds and other 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.