Range Resources Co. (NYSE:RRC) Given Average Rating of “Hold” by Brokerages

Shares of Range Resources Co. (NYSE:RRC) have been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.06.

A number of equities analysts have recently commented on RRC shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price target on shares of Range Resources in a report on Thursday, July 25th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $35.00 to $34.00 in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upgraded Range Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $39.00 in a report on Tuesday, October 1st.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its position in shares of Range Resources by 21.2% during the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Range Resources by 5.4% during the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after purchasing an additional 350 shares during the last quarter. Orser Capital Management LLC increased its position in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after purchasing an additional 427 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in shares of Range Resources by 6.0% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after purchasing an additional 600 shares during the period. Finally, GAMMA Investing LLC grew its position in Range Resources by 20.8% during the second quarter. GAMMA Investing LLC now owns 3,529 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Price Performance

Range Resources stock opened at $29.87 on Friday. The stock has a 50-day moving average price of $30.20 and a two-hundred day moving average price of $33.23. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a market capitalization of $7.25 billion, a PE ratio of 15.16 and a beta of 1.80. 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 (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The business had revenue of $641.30 million during the quarter, compared to analyst estimates of $610.24 million. During the same quarter last year, the business earned $0.27 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts expect that Range Resources will post 1.88 EPS for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. Range Resources’s dividend payout ratio is presently 16.24%.

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.