Range Resources Corporation (NYSE:RRC) Receives $44.29 Consensus PT from Analysts

Range Resources Corporation (NYSE:RRC) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $44.2941.

Several equities research analysts have recently weighed in on RRC shares. Stifel Nicolaus assumed coverage on Range Resources in a research note on Thursday, September 10th. They set a “hold” rating and a $46.00 price objective for the company. Citigroup reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. Truist Financial reduced their target price on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Barclays lifted their price target on Range Resources from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 8th.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Range Resources in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Range Resources during the second quarter valued at $31,000. Ameritas Advisory Services LLC acquired a new position in Range Resources during the second quarter valued at $44,000. Root Financial Partners LLC raised its position in Range Resources by 37.8% during the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 276 shares during the period. Finally, Trust Co. of Vermont purchased a new stake in Range Resources in the 2nd quarter worth about $45,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Up 0.1%

NYSE RRC opened at $38.49 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The company’s 50 day simple moving average is $39.85 and its 200 day simple moving average is $40.58. Range Resources has a 12 month low of $32.68 and a 12 month high of $48.31. The company has a market capitalization of $8.99 billion, a P/E ratio of 10.63 and a beta of 0.43.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. Equities research analysts expect that Range Resources will post 3.65 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 11th. Range Resources’s dividend payout ratio (DPR) is presently 11.05%.

Range Resources Company Profile

Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company’s production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.