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

Shares of Range Resources Corporation (NYSE:RRC) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $44.00.

A number of analysts have recently weighed in on RRC shares. Bank of America upped their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Citigroup cut their price target on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Zacks Research raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Barclays upped their price target on shares of Range Resources from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Finally, Wells Fargo & Company upped their price target on shares of Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th.

Range Resources Stock Performance

Shares of Range Resources stock opened at $38.44 on Wednesday. The company has a 50 day moving average of $41.74 and a 200-day moving average of $39.37. Range Resources has a 1-year low of $32.60 and a 1-year high of $48.31. 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 company has a market cap of $9.06 billion, a PE ratio of 10.17 and a beta of 0.42.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same quarter in the prior year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, equities research analysts forecast that Range Resources will post 3.7 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources’s dividend payout ratio is currently 10.58%.

Insider Transactions at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the transaction, the director directly owned 28,668 shares in the company, valued at $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in Range Resources by 24.4% during the 1st quarter. Parallel Advisors LLC now owns 5,142 shares of the oil and gas exploration company’s stock worth $232,000 after purchasing an additional 1,007 shares in the last quarter. Glenmede Trust Co. NA increased its position in Range Resources by 50.6% during the 1st quarter. Glenmede Trust Co. NA now owns 14,989 shares of the oil and gas exploration company’s stock worth $677,000 after purchasing an additional 5,037 shares in the last quarter. Western Wealth Management LLC acquired a new position in Range Resources during the 1st quarter worth approximately $59,000. Bank of America Corp DE increased its position in Range Resources by 12.9% during the 1st quarter. Bank of America Corp DE now owns 1,633,203 shares of the oil and gas exploration company’s stock worth $73,788,000 after purchasing an additional 187,195 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in Range Resources during the 1st quarter worth approximately $610,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.