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

Shares of Range Resources Corporation (NYSE:RRC) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $42.0526.

Several equities analysts have commented on RRC shares. Wells Fargo & Company upgraded Range Resources to a “strong-buy” rating in a research report on Thursday, October 16th. Piper Sandler reduced their price objective on shares of Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Zacks Research upgraded Range Resources from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $39.00 target price (down from $44.00) on shares of Range Resources in a report on Monday, December 8th. Finally, Raymond James Financial reduced their price target on Range Resources from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th.

Range Resources Trading Up 0.4%

Shares of Range Resources stock opened at $34.49 on Wednesday. The firm’s 50 day moving average is $37.29 and its 200 day moving average is $37.08. The firm has a market capitalization of $8.17 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.26 and a beta of 0.47. Range Resources has a 1 year low of $30.32 and a 1 year high of $43.50. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $655.30 million during the quarter, compared to the consensus estimate of $721.22 million. Range Resources had a net margin of 19.64% and a return on equity of 15.99%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, December 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources’s dividend payout ratio is presently 15.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RRC. Connor Clark & Lunn Investment Management Ltd. bought a new position in Range Resources during the first quarter worth $442,000. Nuveen LLC bought a new position in shares of Range Resources in the 1st quarter worth about $19,396,000. Vestmark Advisory Solutions Inc. raised its position in shares of Range Resources by 22.3% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 8,688 shares of the oil and gas exploration company’s stock worth $347,000 after acquiring an additional 1,584 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Range Resources by 34.9% in the 1st quarter. American Century Companies Inc. now owns 488,224 shares of the oil and gas exploration company’s stock valued at $19,495,000 after purchasing an additional 126,258 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Range Resources during the 1st quarter valued at about $3,838,000. Institutional investors and hedge funds 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.