Range Resources (NYSE:RRC) Rating Reiterated by Benchmark

Benchmark restated their hold rating on shares of Range Resources (NYSE:RRC) in a report issued on Wednesday morning, Benzinga reports.

Several other brokerages have also issued reports on RRC. Truist Financial reduced their price objective on shares of Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a report on Friday, April 5th. Royal Bank of Canada restated an outperform rating and issued a $36.00 price objective on shares of Range Resources in a report on Tuesday, April 9th. Barclays initiated coverage on shares of Range Resources in a report on Wednesday, April 10th. They issued an underweight rating and a $35.00 price objective on the stock. Stifel Nicolaus boosted their price target on shares of Range Resources from $36.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Raymond James cut their price target on shares of Range Resources from $37.00 to $36.00 and set an outperform rating on the stock in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Range Resources has a consensus rating of Hold and an average price target of $36.40.

Range Resources Stock Up 3.3 %

Shares of RRC opened at $37.77 on Wednesday. The firm has a market cap of $9.14 billion, a P/E ratio of 19.17 and a beta of 1.83. Range Resources has a 12-month low of $23.92 and a 12-month high of $37.89. The company’s 50-day moving average price is $33.52 and its 200 day moving average price is $32.37. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. Range Resources’s revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, sell-side analysts forecast that Range Resources will post 1.99 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Institutional Investors Weigh In On Range Resources

Several large investors have recently modified their holdings of the company. Orser Capital Management LLC boosted its holdings in shares of Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after acquiring an additional 427 shares during the period. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after acquiring an additional 431 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after acquiring an additional 490 shares during the period. Lmcg Investments LLC boosted its holdings in shares of Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after acquiring an additional 546 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after acquiring an additional 579 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.