Range Resources Co. (NYSE:RRC) Receives $36.40 Consensus Price Target from Analysts

Range Resources Co. (NYSE:RRC) has received an average recommendation of “Hold” from the nineteen brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $36.75.

Several analysts have commented on RRC shares. Truist Financial decreased their price target on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Mizuho reiterated a “buy” rating and issued a $41.00 price target (up previously from $39.00) on shares of Range Resources in a research note on Friday, April 26th. Stephens upped their target price on shares of Range Resources from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Raymond James decreased their target price on shares of Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Barclays initiated coverage on shares of Range Resources in a research report on Wednesday, April 10th. They set an “underweight” rating and a $35.00 target price on the stock.

Range Resources Trading Down 3.9 %

Shares of Range Resources stock opened at $35.91 on Friday. The company has a market capitalization of $8.71 billion, a P/E ratio of 18.23 and a beta of 1.83. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.35 and a current ratio of 1.35. The company has a fifty day moving average of $33.94 and a 200 day moving average of $32.42.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.48 by $0.21. The business had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. On average, sell-side analysts anticipate that Range Resources will post 2 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid 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 0.89%. Range Resources’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC purchased a new position in Range Resources during the first quarter valued at approximately $345,000. Norden Group LLC grew its holdings in Range Resources by 88.1% in the first quarter. Norden Group LLC now owns 16,568 shares of the oil and gas exploration company’s stock worth $570,000 after purchasing an additional 7,762 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Range Resources by 29.4% during the first quarter. Van ECK Associates Corp now owns 96,383 shares of the oil and gas exploration company’s stock worth $3,318,000 after buying an additional 21,876 shares during the period. SpiderRock Advisors LLC acquired a new stake in shares of Range Resources during the first quarter worth $321,000. Finally, Warther Private Wealth LLC acquired a new stake in shares of Range Resources during the first quarter worth $3,224,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Range Resources Company Profile

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.