Range Resources Co. (NYSE:RRC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Range Resources Co. (NYSE:RRC) have earned an average recommendation of “Hold” from the nineteen research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $35.06.

RRC has been the subject of several recent research reports. Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $31.00 in a research note on Thursday, August 15th. Scotiabank upgraded Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a research report on Tuesday, August 20th. Mizuho cut their price target on Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, UBS Group cut their target price on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a research note on Wednesday, September 18th.

Range Resources Price Performance

Shares of NYSE RRC opened at $29.87 on Friday. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 15.16 and a beta of 1.80. The stock has a fifty day simple moving average of $30.20 and a two-hundred day simple moving average of $33.23. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Range Resources will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norden Group LLC grew its stake in shares of Range Resources by 1,599.9% during the first quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock valued at $5,154,000 after buying an additional 140,891 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Range Resources by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after acquiring an additional 16,619 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Range Resources by 25.2% in 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 during the period. TCW Group Inc. lifted its position in Range Resources by 186.5% in the second quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock valued at $1,671,000 after purchasing an additional 32,433 shares during the last quarter. Finally, Boston Partners lifted its position 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 purchasing an additional 133,565 shares during the last quarter. 98.93% of the stock is currently 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.