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

Shares of Range Resources Co. (NYSE:RRC) have been given an average rating of “Hold” by the nineteen research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $38.78.

Several research firms have recently weighed in on RRC. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday, January 17th. UBS Group increased their price objective on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. The Goldman Sachs Group increased their price objective on Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler upped their price target on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stephens upped their price target on Range Resources from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RRC. Brooklyn Investment Group purchased a new position in shares of Range Resources in the third quarter valued at $25,000. Smartleaf Asset Management LLC increased its position in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. increased its position in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Range Resources in the fourth quarter valued at $42,000. Finally, Blue Trust Inc. increased its position in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC opened at $39.97 on Thursday. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 20.19 and a beta of 1.77. 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 $37.44 and a 200 day moving average price of $33.53. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio is currently 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.