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

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

A number of brokerages recently weighed in on RRC. Royal Bank of Canada reiterated a “sector perform” rating and set a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Susquehanna cut 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 report on Wednesday, September 4th. Wolfe Research began coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho cut their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Finally, Benchmark reissued a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd.

Insider Buying and Selling

In related news, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now directly owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were acquired 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 owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Range Resources

Several large investors have recently made changes to their positions in RRC. Blue Trust Inc. lifted its stake in shares of Range Resources by 107.8% in the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 705 shares during the period. Bogart Wealth LLC acquired a new position in shares of Range Resources in the 3rd quarter valued at $49,000. Fifth Third Bancorp lifted its stake in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co acquired a new position in shares of Range Resources in the 2nd quarter valued at $67,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Range Resources in the 2nd quarter valued at $67,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 4.3 %

Shares of RRC opened at $34.46 on Tuesday. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a 50-day moving average of $30.54 and a 200 day moving average of $32.66. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 17.40 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $617.90 million. During the same quarter last year, the business posted $0.43 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts expect that Range Resources will post 1.87 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Range Resources Company Profile

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.