Brokerages Set Range Resources Co. (NYSE:RRC) PT at $39.84

Shares of Range Resources Co. (NYSE:RRC) have earned an average recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $39.95.

RRC has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Friday, January 17th. UBS Group lifted their target price on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a report on Tuesday, January 14th. Mizuho lifted their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Truist Financial lifted their price target on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company’s stock valued at $48,588,000 after purchasing an additional 604,199 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Range Resources during the fourth quarter worth about $380,000. HITE Hedge Asset Management LLC purchased a new position in Range Resources during the third quarter worth about $11,508,000. Calamos Advisors LLC purchased a new position in Range Resources during the fourth quarter worth about $567,000. Finally, Radnor Capital Management LLC grew its position in Range Resources by 156.2% during the fourth quarter. Radnor Capital Management LLC now owns 42,993 shares of the oil and gas exploration company’s stock worth $1,547,000 after buying an additional 26,213 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Range Resources Trading Up 2.1 %

Shares of Range Resources stock opened at $40.48 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The stock has a 50 day moving average price of $38.47 and a two-hundred day moving average price of $34.62. The stock has a market capitalization of $9.77 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. Range Resources’s payout ratio is presently 32.73%.

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.