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

Range Resources Co. (NYSE:RRC) has earned an average recommendation of “Hold” from the twenty research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $36.10.

A number of brokerages have weighed in on RRC. UBS Group reduced their price target on shares of Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th. Wolfe Research began coverage on Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Susquehanna cut their price target on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Finally, Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $31.00 in a research note on Thursday, August 15th.

Range Resources Trading Up 0.3 %

Shares of NYSE:RRC opened at $30.61 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day moving average is $30.40 and its 200-day moving average is $33.50. The company has a market cap of $7.43 billion, a P/E ratio of 15.54 and a beta of 1.80. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $610.24 million. During the same period in the previous year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Range Resources will post 2.07 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.05%. Range Resources’s payout ratio is 16.24%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TFO Wealth Partners LLC increased its position in Range Resources by 302,571.4% in the 4th quarter. TFO Wealth Partners LLC now owns 21,187 shares of the oil and gas exploration company’s stock valued at $645,000 after acquiring an additional 21,180 shares in the last quarter. DRW Securities LLC increased its holdings in shares of Range Resources by 150.0% in the fourth quarter. DRW Securities LLC now owns 50,000 shares of the oil and gas exploration company’s stock valued at $1,522,000 after purchasing an additional 30,000 shares in the last quarter. Norden Group LLC raised its position in Range Resources by 1,599.9% in the 1st quarter. Norden Group LLC now owns 149,697 shares of the oil and gas exploration company’s stock worth $5,154,000 after purchasing an additional 140,891 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Range Resources by 11.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 159,729 shares of the oil and gas exploration company’s stock worth $5,499,000 after buying an additional 16,619 shares in the last quarter. Finally, Bridgewater Associates LP boosted its position in Range Resources by 39.1% in the 4th quarter. Bridgewater Associates LP now owns 528,042 shares of the oil and gas exploration company’s stock valued at $16,074,000 after buying an additional 148,550 shares during the last quarter. 98.93% of the stock is owned by institutional investors.

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.