Recent Investment Analysts’ Ratings Updates for Range Resources (RRC)

A number of firms have modified their ratings and price targets on shares of Range Resources (NYSE: RRC) recently:

• 10/2/2024 – Range Resources was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $34.00 price target on the stock, down previously from $35.00.
• 10/1/2024 – Range Resources was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $39.00 price target on the stock, up previously from $35.00.
• 9/18/2024 – Range Resources had its price target lowered by analysts at UBS Group AG from $30.00 to $27.00. They now have a “sell” rating on the stock.
• 9/16/2024 – Range Resources had its price target lowered by analysts at Morgan Stanley from $33.00 to $31.00. They now have an “underweight” rating on the stock.
• 9/16/2024 – Range Resources had its price target lowered by analysts at Mizuho from $47.00 to $45.00. They now have an “outperform” rating on the stock.
• 9/12/2024 – Range Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $37.00 to $31.00. They now have an “underweight” rating on the stock.
• 9/6/2024 – Range Resources had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $40.00 to $35.00. They now have a “neutral” rating on the stock.
• 9/4/2024 – Range Resources had its price target lowered by analysts at Susquehanna from $36.00 to $31.00. They now have a “neutral” rating on the stock.
• 8/20/2024 – Range Resources was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating. They now have a $45.00 price target on the stock.
• 8/15/2024 – Range Resources was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $31.00 price target on the stock, down previously from $43.00.

Range Resources Stock Up 0.8 %

RRC opened at $31.60 on Thursday. The firm has a market capitalization of $7.67 billion, a P/E ratio of 16.04 and a beta of 1.80. Range Resources Co. has a one year low of $27.29 and a one year high of $39.33. The company has a fifty day moving average price of $30.00 and a 200-day moving average price of $33.40. 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 announced its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Range Resources Co. will post 1.87 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of Range Resources by 25.2% in the first 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 during the last quarter. William Blair Investment Management LLC purchased a new stake in Range Resources in the second quarter worth $78,223,000. Vanguard Group Inc. boosted its holdings in Range Resources by 4.1% in the first quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after acquiring an additional 959,011 shares in the last quarter. Herr Investment Group LLC increased its position in Range Resources by 4,594.4% during the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company’s stock valued at $17,133,000 after purchasing an additional 487,011 shares during the period. Finally, Sagefield Capital LP raised its holdings in Range Resources by 44.8% in the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company’s stock worth $30,408,000 after purchasing an additional 280,452 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

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.