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

Shares of Range Resources Co. (NYSE:RRC) have received a consensus rating of “Hold” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.06.

Several research analysts have weighed in on the company. Mizuho lowered their target price on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Friday, October 25th. Citigroup upped their price objective on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com raised shares of Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a report on Wednesday, October 23rd.

Insider Buying and Selling at Range Resources

In related news, Director Charles G. Griffie purchased 1,275 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. The trade was a 27.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of RRC. HITE Hedge Asset Management LLC purchased a new stake in shares of Range Resources in the third quarter valued at $11,508,000. Charles Schwab Investment Management Inc. grew its holdings in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock valued at $62,065,000 after buying an additional 92,217 shares during the period. Aptus Capital Advisors LLC increased its stake in shares of Range Resources by 135.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after acquiring an additional 64,443 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of Range Resources by 186.5% during the 2nd quarter. TCW Group Inc. now owns 49,824 shares of the oil and gas exploration company’s stock worth $1,671,000 after acquiring an additional 32,433 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Range Resources by 32.5% in the third quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock worth $2,025,000 after acquiring an additional 16,134 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 2.2 %

RRC stock opened at $33.75 on Friday. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 17.05 and a beta of 1.85. The company has a fifty day moving average price of $32.51 and a 200 day moving average price of $32.52.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. Sell-side analysts expect that Range Resources will post 1.9 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.08 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. Range Resources’s dividend payout ratio is presently 16.16%.

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.