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

Shares of Range Resources Co. (NYSE:RRC) have earned an average rating of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $41.50.

A number of research firms have recently issued reports on RRC. JPMorgan Chase & Co. upgraded Range Resources from an “underweight” rating to a “neutral” rating and upped their price target for the company from $43.00 to $45.00 in a research report on Thursday, March 13th. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $45.00 in a research report on Monday, January 13th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Roth Mkm upgraded Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the company from $41.00 to $42.00 in a research report on Tuesday, April 8th. Finally, Benchmark restated a “hold” rating on shares of Range Resources in a research report on Friday, January 17th.

Insider Transactions at Range Resources

In other news, Director James M. Funk sold 13,582 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the sale, the director now directly owns 54,394 shares in the company, valued at approximately $1,905,421.82. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Range Resources

Several hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in shares of Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 315 shares in the last quarter. Xponance Inc. raised its stake in shares of Range Resources by 1.2% in the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock valued at $1,099,000 after acquiring an additional 326 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Range Resources by 0.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock valued at $2,636,000 after acquiring an additional 328 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after acquiring an additional 355 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Range Resources by 5.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock valued at $266,000 after buying an additional 360 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

RRC stock opened at $38.97 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $36.23 and a 200-day simple moving average of $36.19. The firm has a market capitalization of $9.31 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 5.11 and a beta of 0.60. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analyst estimates 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 in the prior year, the business earned $0.63 earnings per share. Equities research analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is currently 32.14%.

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.