Range Resources Corporation (NYSE:RRC) Given Consensus Rating of “Hold” by Analysts

Shares of Range Resources Corporation (NYSE:RRC) have been assigned an average recommendation of “Hold” from the twenty-two analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.0526.

RRC has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Range Resources in a research report on Monday. JPMorgan Chase & Co. reissued an “underweight” rating and set a $39.00 price target (down from $44.00) on shares of Range Resources in a research report on Monday, December 8th. Royal Bank Of Canada raised their price objective on Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Raymond James Financial dropped their target price on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Finally, Wells Fargo & Company upgraded shares of Range Resources to a “strong-buy” rating in a report on Thursday, October 16th.

Range Resources Stock Performance

Shares of NYSE RRC opened at $35.25 on Wednesday. Range Resources has a 1 year low of $30.32 and a 1 year high of $43.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $37.24 and a two-hundred day moving average price of $37.05. The firm has a market cap of $8.35 billion, a P/E ratio of 14.80, a PEG ratio of 0.27 and a beta of 0.47.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The firm had revenue of $655.30 million for the quarter, compared to analyst estimates of $721.22 million. During the same period in the previous year, the company earned $0.48 earnings per share. Range Resources’s revenue was up 21.7% compared to the same quarter last year. Research analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is 15.13%.

Institutional Trading of Range Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Range Resources by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after purchasing an additional 799,574 shares in the last quarter. Boston Partners raised its holdings in Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after buying an additional 4,398,042 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Range Resources by 7.9% during the third quarter. Dimensional Fund Advisors LP now owns 8,291,202 shares of the oil and gas exploration company’s stock valued at $312,075,000 after buying an additional 608,274 shares in the last quarter. Lingotto Investment Management LLP lifted its position in shares of Range Resources by 2.0% in the second quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company’s stock worth $291,263,000 after buying an additional 138,877 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Range Resources by 230.1% during the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company’s stock valued at $194,644,000 after acquiring an additional 3,336,299 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

About Range Resources

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.