Range Resources Co. (NYSE:RRC) Receives $36.40 Average Price Target from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been given a consensus recommendation of “Hold” by the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $36.65.

A number of research firms recently commented on RRC. Susquehanna increased their price target on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Royal Bank of Canada lowered shares of Range Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $36.00 to $39.00 in a report on Friday. Truist Financial decreased their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Mizuho reissued a “buy” rating and issued a $41.00 price objective (up from $39.00) on shares of Range Resources in a research note on Friday. Finally, Stephens upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th.

Range Resources Stock Down 0.9 %

Shares of RRC opened at $37.31 on Friday. The business’s 50 day moving average is $33.80 and its 200 day moving average is $32.40. The company has a current ratio of 1.35, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. Range Resources has a 12-month low of $23.92 and a 12-month high of $38.25. The company has a market capitalization of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Research analysts expect that Range Resources will post 2 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now owns 22,370 shares of the company’s stock, valued at approximately $844,467.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners lifted its stake in Range Resources by 1,858.7% during the 4th quarter. Boston Partners now owns 6,397,521 shares of the oil and gas exploration company’s stock valued at $194,722,000 after acquiring an additional 6,070,900 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Range Resources by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,931,670 shares of the oil and gas exploration company’s stock valued at $180,568,000 after purchasing an additional 90,028 shares during the last quarter. Invesco Ltd. boosted its holdings in Range Resources by 22.4% in the third quarter. Invesco Ltd. now owns 3,796,629 shares of the oil and gas exploration company’s stock valued at $123,049,000 after purchasing an additional 693,970 shares during the last quarter. Kopernik Global Investors LLC grew its position in Range Resources by 2.7% during the 4th quarter. Kopernik Global Investors LLC now owns 3,106,518 shares of the oil and gas exploration company’s stock worth $94,562,000 after purchasing an additional 82,095 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Range Resources by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,780,804 shares of the oil and gas exploration company’s stock valued at $54,208,000 after buying an additional 64,810 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.