Brokerages Set Range Resources Corporation (NYSE:RRC) Price Target at $43.75

Shares of Range Resources Corporation (NYSE:RRC) have been given an average rating of “Hold” by the nineteen analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $43.75.

A number of analysts have commented on the company. Truist Financial reduced their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group lowered their price objective on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Stephens boosted their price objective on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup restated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Finally, Morgan Stanley lowered their price target on shares of Range Resources from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th.

Range Resources Stock Up 1.6%

RRC opened at $41.64 on Monday. The firm’s 50 day simple moving average is $38.35 and its two-hundred day simple moving average is $40.21. The company has a market capitalization of $9.73 billion, a PE ratio of 11.50 and a beta of 0.42. Range Resources has a 1-year low of $32.68 and a 1-year high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The firm had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. During the same period in the prior year, the business posted $0.66 EPS. Range Resources’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that Range Resources will post 3.62 EPS for the current year.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s payout ratio is 11.05%.

Insiders Place Their Bets

In related news, Director Reginal Spiller sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the completion of the transaction, the director owned 13,421 shares of the company’s stock, valued at approximately $536,840. This represents a 20.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Range Resources

Several hedge funds have recently bought and sold shares of the stock. Seelaus Asset Management LLC increased its position in shares of Range Resources by 2.6% in the first quarter. Seelaus Asset Management LLC now owns 9,745 shares of the oil and gas exploration company’s stock valued at $440,000 after buying an additional 250 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Range Resources by 37.8% during the 1st 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 in the last quarter. UMB Bank n.a. lifted its position in shares of Range Resources by 13.0% during the 4th quarter. UMB Bank n.a. now owns 2,431 shares of the oil and gas exploration company’s stock valued at $86,000 after buying an additional 279 shares in the last quarter. Toth Financial Advisory Corp grew its stake in Range Resources by 27.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,400 shares of the oil and gas exploration company’s stock valued at $52,000 after acquiring an additional 300 shares during the period. Finally, Harbor Investment Advisory LLC grew its stake in Range Resources by 0.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 38,618 shares of the oil and gas exploration company’s stock valued at $1,745,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.