Analysts Set Range Resources Corporation (NYSE:RRC) PT at $43.75

Shares of Range Resources Corporation (NYSE:RRC) have been assigned an average rating of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $43.75.

A number of research firms have commented on RRC. Susquehanna lowered their price target on Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Raymond James Financial set a $45.00 price target on Range Resources in a research note on Monday, July 27th. UBS Group reissued a “neutral” rating on shares of Range Resources in a research report on Thursday, August 13th. Finally, Morgan Stanley decreased their price objective on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director directly owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Range Resources by 2.1% during the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $3,029,000 after purchasing an additional 1,563 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after purchasing an additional 8,816 shares during the period. Focus Partners Wealth bought a new position in Range Resources in the first quarter worth $285,000. EverSource Wealth Advisors LLC raised its holdings in Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after purchasing an additional 1,139 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after buying an additional 30,481 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE:RRC opened at $41.52 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. Range Resources has a fifty-two week low of $32.68 and a fifty-two week high of $48.31. The firm has a market cap of $9.70 billion, a PE ratio of 11.47 and a beta of 0.42. The business has a 50 day moving average price of $38.55 and a 200-day moving average price of $40.25.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. Equities research analysts predict that Range Resources will post 3.62 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 11th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources’s payout ratio is currently 11.05%.

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.