Brokerages Set Range Resources Corporation (NYSE:RRC) Price Target at $44.29

Shares of Range Resources Corporation (NYSE:RRC) have earned an average rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $44.2941.

RRC has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Truist Financial dropped their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Stephens upped their price objective on shares of Range Resources from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Stifel Nicolaus began coverage on shares of Range Resources in a report on Thursday, September 10th. They issued a “hold” rating and a $46.00 target price on the stock. Finally, Susquehanna cut their price target on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st.

Range Resources Trading Up 1.4%

Shares of RRC stock opened at $38.36 on Friday. Range Resources has a 12-month low of $32.68 and a 12-month high of $48.31. The company has a market capitalization of $8.96 billion, a PE ratio of 10.60 and a beta of 0.43. The firm has a 50 day moving average price of $39.92 and a two-hundred day moving average price of $40.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million for the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. As a group, analysts predict that Range Resources will post 3.65 earnings per share for the current year.

Range Resources Dividend Announcement

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

Insider Buying and Selling

In other news, Director Reginal Spiller sold 3,500 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Range Resources during the second quarter worth about $868,085,000. Boston Partners boosted its position in Range Resources by 14.0% during the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after buying an additional 1,650,258 shares during the period. Dimensional Fund Advisors LP grew its holdings in Range Resources by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock worth $415,354,000 after acquiring an additional 227,711 shares during the last quarter. Geode Capital Management LLC grew its holdings in Range Resources by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,337,001 shares of the oil and gas exploration company’s stock worth $152,971,000 after acquiring an additional 41,078 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Range Resources by 35.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,721,749 shares of the oil and gas exploration company’s stock worth $122,969,000 after purchasing an additional 718,648 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Company Profile

Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company’s production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.