Recent Analysts’ Ratings Updates for Range Resources (RRC)

A number of research firms have changed their ratings and price targets for Range Resources (NYSE: RRC):

• 10/23/2024 – Range Resources had its price target raised by analysts at Stephens from $36.00 to $37.00. They now have an “overweight” rating on the stock.
• 10/23/2024 – Range Resources had its “hold” rating reaffirmed by analysts at Benchmark Co..
• 10/17/2024 – Range Resources had its price target raised by analysts at Stephens from $35.00 to $36.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – Range Resources had its price target lowered by analysts at Mizuho from $45.00 to $40.00. They now have an “outperform” rating on the stock.
• 10/2/2024 – Range Resources was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $34.00 price target on the stock, down previously from $35.00.
• 10/1/2024 – Range Resources was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $39.00 price target on the stock, up previously from $35.00.
• 9/18/2024 – Range Resources had its price target lowered by analysts at UBS Group AG from $30.00 to $27.00. They now have a “sell” rating on the stock.
• 9/16/2024 – Range Resources had its price target lowered by analysts at Morgan Stanley from $33.00 to $31.00. They now have an “underweight” rating on the stock.
• 9/16/2024 – Range Resources had its price target lowered by analysts at Mizuho from $47.00 to $45.00. They now have an “outperform” rating on the stock.
• 9/12/2024 – Range Resources had its price target lowered by analysts at JPMorgan Chase & Co. from $37.00 to $31.00. They now have an “underweight” rating on the stock.
• 9/6/2024 – Range Resources had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $40.00 to $35.00. They now have a “neutral” rating on the stock.
• 9/4/2024 – Range Resources had its price target lowered by analysts at Susquehanna from $36.00 to $31.00. They now have a “neutral” rating on the stock.

Range Resources Stock Performance

NYSE:RRC opened at $30.93 on Thursday. The company’s 50-day moving average is $30.19 and its two-hundred day moving average is $33.09. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 15.70 and a beta of 1.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. Range Resources Co. has a 1-year low of $27.29 and a 1-year high of $39.33.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Analysts forecast that Range Resources Co. will post 1.88 EPS for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Activity

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares of the company’s stock, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently made changes to their positions in RRC. Blue Trust Inc. boosted its stake in Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new position in Range Resources during the third quarter worth about $49,000. Fifth Third Bancorp lifted its holdings in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares during the period. Perkins Coie Trust Co purchased a new stake in shares of Range Resources during the 2nd quarter worth $67,000. Finally, International Assets Investment Management LLC acquired a new position in Range Resources during the second quarter worth about $67,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.