Range Resources Co. (NYSE:RRC) Receives Average Recommendation of “Hold” from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been given an average rating of “Hold” by the twenty brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.10.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research note on Thursday, September 12th. Wolfe Research began coverage on shares of Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho lowered their target price on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, Susquehanna lowered their price objective on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th.

Range Resources Trading Up 0.3 %

RRC opened at $30.61 on Monday. The firm has a 50 day simple moving average of $30.40 and a 200 day simple moving average of $33.50. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 15.54 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Range Resources will post 2.07 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

Institutional Investors Weigh In On Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after purchasing an additional 5,759,883 shares in the last quarter. Vanguard Group Inc. raised its position in Range Resources by 4.1% during the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock worth $843,213,000 after acquiring an additional 959,011 shares in the last quarter. Boston Partners lifted its stake in Range Resources by 2.1% in the first quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock valued at $224,912,000 after acquiring an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP grew its position in shares of Range Resources by 1.5% in the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock valued at $216,326,000 after acquiring an additional 93,782 shares during the period. Finally, KGH Ltd grew its position in shares of Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after acquiring an additional 190,000 shares during the period. 98.93% of the stock is owned by institutional investors.

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.