Analysts Set Range Resources Corporation (NYSE:RRC) PT at $43.33

Range Resources Corporation (NYSE:RRC) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $43.00.

Several equities research analysts have recently weighed in on RRC shares. Truist Financial lowered their price target on shares of Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley dropped their target price on Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, June 29th. Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 16th. Freedom Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded Range Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 2nd.

Range Resources Trading Down 3.4%

NYSE:RRC traded down $1.26 during midday trading on Friday, hitting $35.47. The stock had a trading volume of 2,869,062 shares, compared to its average volume of 3,134,867. Range Resources has a one year low of $32.60 and a one year high of $48.31. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 9.38 and a beta of 0.41. The stock has a 50-day moving average of $39.11 and a 200 day moving average of $39.29. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last issued its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $898.20 million. During the same period in the previous year, the company posted $0.96 EPS. Range Resources’s revenue was up 49.8% on a year-over-year basis. As a group, sell-side analysts forecast that Range Resources will post 3.5 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is currently 10.58%.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Range Resources by 2.1% during the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock valued at $3,029,000 after purchasing an additional 1,563 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Range Resources by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after acquiring an additional 8,816 shares during the last quarter. Focus Partners Wealth acquired a new stake in Range Resources during the 1st quarter worth about $285,000. EverSource Wealth Advisors LLC grew its stake in Range Resources by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock valued at $119,000 after purchasing an additional 1,139 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Range Resources by 8.0% in the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock valued at $16,701,000 after purchasing an additional 30,481 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.