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

Range Resources Co. (NYSE:RRC) has been given a consensus recommendation of “Hold” by the nineteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $39.84.

A number of equities analysts recently commented on RRC shares. The Goldman Sachs Group lifted their price target on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Williams Trading set a $40.00 target price on Range Resources in a research note on Wednesday, March 5th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, January 3rd. Truist Financial lifted their target price on Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, 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 note on Thursday, February 13th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. M&T Bank Corp increased its holdings in shares of Range Resources by 3.1% in the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock valued at $332,000 after buying an additional 327 shares in the last quarter. Commerce Bank raised its stake in Range Resources by 5.7% during the 3rd quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company’s stock valued at $211,000 after purchasing an additional 369 shares during the period. CIBC Asset Management Inc raised its stake in Range Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company’s stock valued at $268,000 after purchasing an additional 378 shares during the period. Commonwealth Equity Services LLC raised its stake in Range Resources by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company’s stock valued at $508,000 after purchasing an additional 379 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in shares of Range Resources by 1.3% during the 4th quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company’s stock valued at $1,130,000 after acquiring an additional 390 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 2.3 %

Shares of NYSE RRC opened at $38.33 on Monday. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 5.11 and a beta of 1.80. 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 stock’s 50-day simple moving average is $38.31 and its 200-day simple moving average is $34.45.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period last 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.94%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio is currently 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.