Range Resources Corporation (NYSE:RRC) Receives $41.22 Consensus Target Price from Brokerages

Range Resources Corporation (NYSE:RRC) has earned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $41.1176.

A number of analysts have commented on RRC shares. Piper Sandler reduced their price target on Range Resources from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Mizuho boosted their price objective on Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Range Resources in a report on Monday, December 29th. Morgan Stanley lowered their price target on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. Finally, Susquehanna reduced their price objective on shares of Range Resources to $39.00 and set a “neutral” rating for the company in a research note on Monday, October 20th.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its stake in 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 purchasing an additional 703 shares during the period. Los Angeles Capital Management LLC purchased a new position in Range Resources during the fourth quarter valued at $34,000. True Wealth Design LLC increased its holdings in Range Resources by 116.3% in the 3rd 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 during the last quarter. Smartleaf Asset Management LLC lifted its stake in Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Range Resources during the 2nd quarter valued at about $45,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

RRC traded down $0.14 during trading on Thursday, hitting $36.24. The company’s stock had a trading volume of 1,044,787 shares, compared to its average volume of 3,151,396. The business’s 50 day simple moving average is $35.68 and its 200-day simple moving average is $36.09. The firm has a market cap of $8.59 billion, a PE ratio of 15.23, a P/E/G ratio of 0.33 and a beta of 0.58. Range Resources has a one year low of $30.32 and a one year high of $43.50. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders 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 yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 15.13%.

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.