Range Resources (NYSE:RRC) Lowered to “Hold” Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Range Resources (NYSE:RRC) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on RRC. Royal Bank Of Canada upped their price objective on shares of Range Resources from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Mizuho boosted their price target on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Susquehanna cut their price target on shares of Range Resources to $39.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Zacks Research raised Range Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Piper Sandler decreased their price objective on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.95.

Range Resources Price Performance

Shares of Range Resources stock opened at $33.66 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $7.97 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.22 and a beta of 0.51. The business’s 50-day moving average price is $36.79 and its 200-day moving average price is $36.43. Range Resources has a 12 month low of $30.32 and a 12 month high of $43.50.

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 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 company had revenue of $655.30 million during the quarter, compared to the consensus estimate of $721.22 million. During the same quarter in the previous year, the company posted $0.48 EPS. Range Resources’s quarterly revenue was up 21.7% compared to the same quarter last year. Sell-side analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, December 12th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 12th. Range Resources’s dividend payout ratio is 15.13%.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of RRC. Hantz Financial Services Inc. grew its position in shares of Range Resources by 1,464.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 703 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Range Resources by 116.3% during the third quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 541 shares in the last quarter. Barrett & Company Inc. purchased a new stake in Range Resources in the second quarter worth $41,000. Smartleaf Asset Management LLC lifted its stake in Range Resources by 49.6% in the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 336 shares during the period. Finally, Allworth Financial LP boosted its holdings in Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 731 shares in the last quarter. 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.