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

Range Resources Corporation (NYSE:RRC) has been given a consensus rating of “Hold” by the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $43.4118.

RRC has been the topic of a number of research analyst reports. Bank of America increased their price objective 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 decreased their price objective on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings raised shares of Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Morgan Stanley reduced 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 note on Friday, January 23rd. Finally, Piper Sandler raised their target price on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. lifted its stake in Range Resources by 753.5% in the third quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after buying an additional 79,613 shares in the last quarter. Vanguard Group Inc. lifted its stake in Range Resources by 3.3% in the third quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after buying an additional 799,574 shares in the last quarter. Citigroup Inc. lifted its stake in Range Resources by 71.0% in the third quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock valued at $11,578,000 after buying an additional 127,753 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Range Resources by 48.3% in the third quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company’s stock valued at $5,086,000 after buying an additional 44,004 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Range Resources by 7.1% in the third quarter. American Century Companies Inc. now owns 754,293 shares of the oil and gas exploration company’s stock valued at $28,392,000 after buying an additional 49,979 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 2.3%

Shares of NYSE:RRC opened at $42.12 on Friday. Range Resources has a 12 month low of $32.60 and a 12 month high of $48.31. The company’s 50-day moving average price is $43.02 and its two-hundred day moving average price is $39.16. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.93 billion, a P/E ratio of 11.14 and a beta of 0.46.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue was up 49.8% on a year-over-year basis. As a group, research analysts forecast that Range Resources will post 3.75 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.10 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Range Resources’s payout ratio is 10.58%.

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.