Range Resources Corporation (NYSE:RRC) Receives Consensus Recommendation of “Hold” from Brokerages

Range Resources Corporation (NYSE:RRC) has been given a consensus rating of “Hold” by the nineteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $43.75.

Several research firms recently weighed in on RRC. Wells Fargo & Company reduced their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 23rd. UBS Group reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, August 13th. Barclays lowered their target price on shares of Range Resources from $43.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. The Goldman Sachs Group decreased their price target on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday, July 23rd.

Insider Buying and Selling at Range Resources

In related news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director directly owned 13,421 shares in the company, valued at approximately $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Range Resources

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Range Resources during the 2nd quarter worth $868,085,000. California State Teachers Retirement System increased its stake in Range Resources by 3,604.0% during the second quarter. California State Teachers Retirement System now owns 10,200,324 shares of the oil and gas exploration company’s stock valued at $379,350,000 after purchasing an additional 9,924,937 shares during the last quarter. Boston Partners lifted its position in shares of Range Resources by 59.3% in the 3rd quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock worth $445,196,000 after buying an additional 4,398,042 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Range Resources by 517.6% during the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock valued at $91,852,000 after buying an additional 2,045,165 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Range Resources in the second quarter valued at approximately $67,470,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Up 0.1%

Shares of NYSE RRC opened at $41.52 on Monday. The firm has a market cap of $9.70 billion, a P/E ratio of 11.47 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. Range Resources has a 1 year low of $32.68 and a 1 year high of $48.31. The firm’s 50 day moving average price is $38.55 and its 200 day moving average price is $40.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million during the quarter, compared to the consensus estimate of $744.78 million. During the same period in the previous year, the firm posted $0.66 EPS. Range Resources’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Range Resources will post 3.62 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) is currently 11.05%.

Range Resources Company Profile

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.