Benchmark Reaffirms Hold Rating for Range Resources (NYSE:RRC)

Benchmark restated their hold rating on shares of Range Resources (NYSE:RRC) in a report released on Wednesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an outperform rating and issued a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Scotiabank cut shares of Range Resources from a sector outperform rating to a sector perform rating and raised their price target for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Stephens raised their price target on shares of Range Resources from $41.00 to $42.00 and gave the company an overweight rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Range Resources from $36.00 to $39.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley lifted their price objective on shares of Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $36.65.

Range Resources Stock Performance

Shares of RRC stock opened at $37.31 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources has a 52 week low of $23.92 and a 52 week high of $38.25. The stock has a market capitalization of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83. The firm has a 50 day moving average of $33.80 and a two-hundred day moving average of $32.41.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter last year, the company posted $0.96 EPS. The firm’s revenue was down 15.7% compared to the same quarter last year. On average, research analysts predict that Range Resources will post 2 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.86%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity at Range Resources

In related news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Glenorchy Capital Ltd acquired a new position in Range Resources in the fourth quarter valued at $1,799,000. Cary Street Partners Investment Advisory LLC acquired a new position in Range Resources in the third quarter valued at $27,000. Schroder Investment Management Group increased its stake in Range Resources by 23.7% in the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the period. Kennedy Capital Management LLC increased its stake in Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Range Resources in the third quarter valued at $19,704,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

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.