Range Resources Corporation (NYSE:RRC) Given Average Rating of “Hold” by Brokerages

Shares of Range Resources Corporation (NYSE:RRC) have earned a consensus recommendation of “Hold” from the twenty research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $44.00.

RRC has been the subject of several research analyst reports. Weiss Ratings upgraded Range Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. TD Cowen raised their price target on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, March 17th. Truist Financial cut their price target on Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Barclays raised their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Finally, Piper Sandler raised their price target on Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, March 12th.

Range Resources Stock Performance

NYSE RRC opened at $41.07 on Friday. The stock has a market capitalization of $9.68 billion, a PE ratio of 10.87 and a beta of 0.46. The business has a 50 day simple moving average of $43.01 and a two-hundred day simple moving average of $39.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. Range Resources has a 1-year low of $32.60 and a 1-year high of $48.31.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. On average, research analysts predict that Range Resources will post 3.75 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.10 dividend. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is presently 10.58%.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the transaction, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Seelaus Asset Management LLC boosted its holdings in shares of Range Resources by 2.6% in the 1st quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock worth $440,000 after purchasing an additional 250 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Range Resources by 37.8% in the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the period. UMB Bank n.a. boosted its holdings in shares of Range Resources by 13.0% in the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock worth $86,000 after purchasing an additional 279 shares during the period. Profund Advisors LLC boosted its holdings in shares of Range Resources by 5.5% in the 3rd quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 282 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Range Resources by 2.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock worth $471,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.