Range Resources Co. (NYSE:RRC) Receives $35.00 Consensus Price Target from Brokerages

Range Resources Co. (NYSE:RRC) has been assigned a consensus rating of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.00.

RRC has been the subject of several research reports. Bank of America began coverage on Range Resources in a research note on Monday, October 28th. They set a “neutral” rating and a $34.00 price target for the company. StockNews.com raised shares of Range Resources to a “sell” rating in a report on Tuesday. Susquehanna lowered their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Mizuho lowered their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th.

Insider Buying and Selling

In other Range Resources news, Director Charles G. Griffie purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at $186,274.66. The trade was a 27.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the business’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Institutional Trading of Range Resources

Several large investors have recently bought and sold shares of the company. Verition Fund Management LLC lifted its position in Range Resources by 379.3% during the third quarter. Verition Fund Management LLC now owns 409,427 shares of the oil and gas exploration company’s stock valued at $12,594,000 after buying an additional 324,011 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Range Resources by 3.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 53,637 shares of the oil and gas exploration company’s stock worth $1,650,000 after acquiring an additional 1,787 shares in the last quarter. Townsquare Capital LLC grew its holdings in Range Resources by 5.9% in the third quarter. Townsquare Capital LLC now owns 78,455 shares of the oil and gas exploration company’s stock worth $2,413,000 after purchasing an additional 4,364 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Range Resources by 329.7% during the third quarter. BNP Paribas Financial Markets now owns 57,618 shares of the oil and gas exploration company’s stock valued at $1,772,000 after purchasing an additional 44,209 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Range Resources during the third quarter valued at approximately $25,000. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Performance

NYSE RRC opened at $33.63 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $8.12 billion, a PE ratio of 16.98 and a beta of 1.80. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a 50-day simple moving average of $30.87 and a 200 day simple moving average of $32.65.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter in the previous year, the firm posted $0.43 EPS. Range Resources’s revenue was up .9% on a year-over-year basis. On average, research analysts predict that Range Resources will post 1.87 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is 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.