Range Resources Corporation (NYSE:RRC) Receives $42.05 Average PT from Analysts

Shares of Range Resources Corporation (NYSE:RRC) have received a consensus rating of “Hold” from the twenty-two ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $42.0526.

RRC has been the topic of a number of recent analyst reports. Raymond James Financial reduced their price objective on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Mizuho upped their target price on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. UBS Group increased their price target on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Royal Bank Of Canada boosted their price objective on Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Range Resources in a research report on Monday.

Range Resources Stock Up 0.4%

Shares of RRC opened at $34.49 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $37.29 and a 200 day moving average of $37.10. The company has a market cap of $8.17 billion, a PE ratio of 14.49, a P/E/G ratio of 0.26 and a beta of 0.47. Range Resources has a 52-week low of $30.32 and a 52-week high of $43.50.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share 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 for the quarter, compared to the consensus estimate of $721.22 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, sell-side analysts expect that Range Resources will post 2.02 EPS for the current year.

Range Resources Announces Dividend

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

Hedge Funds Weigh In On Range Resources

Hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its stake in shares of Range Resources by 1,464.6% during the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares in the last quarter. True Wealth Design LLC increased its holdings in Range Resources by 116.3% during 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. Barrett & Company Inc. bought a new stake in Range Resources during the 2nd quarter valued at $41,000. Smartleaf Asset Management LLC lifted its holdings in shares of Range Resources by 49.6% in 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 buying an additional 336 shares during the period. Finally, Allworth Financial LP grew 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 buying an additional 731 shares in the last quarter. 98.93% of the stock is currently owned by 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.