Range Resources Corporation (RRC) – What Are Brokerages Saying About This Stock?

Shares of Range Resources Corporation (NYSE:RRC) have been assigned an average rating of “Hold” from the twenty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $44.00.

A number of equities analysts have recently weighed in on RRC shares. Weiss Ratings raised shares of Range Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Stifel Nicolaus initiated coverage on Range Resources in a research report on Thursday, September 10th. They set a “hold” rating and a $46.00 price objective for the company. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 19th. UBS Group lowered their target price on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Finally, Scotiabank began coverage on Range Resources in a research report on Wednesday. They issued a “sector perform” rating and a $42.00 target price on the stock.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the sale, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Range Resources during the 2nd quarter valued at $868,085,000. Dimensional Fund Advisors LP boosted its holdings in Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after purchasing an additional 227,711 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its position in Range Resources by 35.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,721,749 shares of the oil and gas exploration company’s stock worth $122,969,000 after buying an additional 718,648 shares during the last quarter. Canoe Financial LP increased its position in Range Resources by 45.6% during the first quarter. Canoe Financial LP now owns 2,290,309 shares of the oil and gas exploration company’s stock worth $103,476,000 after buying an additional 717,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Range Resources by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,962,499 shares of the oil and gas exploration company’s stock worth $88,666,000 after buying an additional 22,278 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC opened at $43.15 on Tuesday. The company has a market capitalization of $10.08 billion, a PE ratio of 11.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50 day moving average price is $40.39 and its 200 day moving average price is $40.03. Range Resources has a 52 week low of $32.68 and a 52 week high of $48.31.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Research analysts expect that Range Resources will post 3.78 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, September 11th. Range Resources’s payout ratio is currently 11.05%.

About Range Resources

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil producer headquartered in Fort Worth, Texas. The company explores for, develops and produces hydrocarbons, with a primary focus on unconventional shale resources in the Appalachian Basin.

Range’s principal operating area is the Marcellus Shale in southwestern Pennsylvania, where it produces natural gas, NGLs and condensate. Its products are sold to customers through regional and interstate pipeline systems and other market channels serving utilities, industrial users, power generators and other energy markets.

Founded in 1976, Range Resources has historically operated in several U.S.