Range Resources Corporation (NYSE:RRC) Receives Consensus Rating of “Hold” from Analysts

Shares of Range Resources Corporation (NYSE:RRC) have earned a consensus rating of “Hold” from the twenty research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.3684.

A number of analysts recently commented on RRC shares. Barclays upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Susquehanna cut their target price on Range Resources to $39.00 and set a “neutral” rating on the stock in a research note on Monday, October 20th. Royal Bank Of Canada reduced their target price on Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, Mizuho upped their price target on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th.

Range Resources Price Performance

Shares of Range Resources stock traded up $0.82 during midday trading on Friday, reaching $34.42. The company had a trading volume of 2,808,037 shares, compared to its average volume of 2,582,816. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.24 and a beta of 0.51. The stock has a fifty day simple moving average of $36.53 and a 200 day simple moving average of $36.27. Range Resources has a 1-year low of $30.32 and a 1-year high of $43.50.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. As a group, equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were issued a $0.09 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Institutional Trading of Range Resources

A number of large investors have recently made changes to their positions in RRC. Hantz Financial Services Inc. grew its stake in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares during the period. True Wealth Design LLC lifted its holdings in shares of Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 541 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. Barrett & Company Inc. acquired a new position in shares of Range Resources in the 2nd quarter valued at approximately $41,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Range Resources during the 2nd quarter worth approximately $45,000. Institutional investors own 98.93% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.