Brokerages Set Range Resources Corporation (NYSE:RRC) PT at $44.00

Shares of Range Resources Corporation (NYSE:RRC) have earned an average rating of “Hold” from the twenty analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.00.

Several analysts have weighed in on RRC shares. Piper Sandler boosted their price objective on Range Resources from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Truist Financial lowered their price target on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. TD Cowen boosted their price target on shares of Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, March 17th. Barclays raised their price objective on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Finally, Freedom Capital raised shares of Range Resources from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th.

Insider Buying and Selling

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total value of $310,800.00. Following the transaction, the director owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in Range Resources during the 4th quarter worth approximately $34,000. Root Financial Partners LLC raised its holdings in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 276 shares during the period. Smartleaf Asset Management LLC raised its holdings in Range Resources by 49.6% in the third 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 during the period. Western Wealth Management LLC bought a new position in shares of Range Resources during the first quarter worth $59,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Range Resources in the 4th quarter valued at $57,000. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Down 1.7%

NYSE:RRC opened at $36.86 on Wednesday. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 9.78 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s fifty day moving average price is $41.12 and its two-hundred day moving average price is $39.36. Range Resources has a 52-week low of $32.60 and a 52-week high of $48.31.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.27. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. On average, analysts anticipate that Range Resources will post 3.71 EPS for the current year.

Range Resources Announces Dividend

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

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.