Range Resources Corporation (NYSE:RRC) Receives Consensus Rating of “Hold” from Analysts

Range Resources Corporation (NYSE:RRC) has been assigned an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $41.8421.

RRC has been the topic of several research analyst reports. Raymond James Financial dropped their price objective on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Royal Bank Of Canada lowered their price target on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Wednesday. Morgan Stanley cut their price objective on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Piper Sandler decreased their target price on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Finally, UBS Group lifted their price target on Range Resources from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, December 12th.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Range Resources by 4.7% in the 2nd quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after purchasing an additional 270 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Range Resources by 5.5% during the third quarter. Profund Advisors LLC now owns 5,427 shares of the oil and gas exploration company’s stock worth $204,000 after purchasing an additional 282 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Range Resources by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock valued at $2,981,000 after buying an additional 299 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Range Resources by 2.5% in the third quarter. Pinnacle Associates Ltd. now owns 12,503 shares of the oil and gas exploration company’s stock valued at $471,000 after buying an additional 302 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Range Resources by 3.1% in the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock valued at $431,000 after buying an additional 315 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

RRC opened at $33.60 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.29. Range Resources has a 12-month low of $30.32 and a 12-month high of $43.50. The business has a 50 day moving average of $36.59 and a 200-day moving average of $36.33. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.23 and a beta of 0.51.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating 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 business had revenue of $655.30 million for the quarter, compared to analysts’ expectations of $721.22 million. During the same quarter in the prior year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

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

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.