Range Resources Co. (NYSE:RRC) Receives $35.06 Consensus Price Target from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been given a consensus rating of “Hold” by the twenty ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.50.

A number of analysts recently commented on the company. UBS Group raised Range Resources from a “sell” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Monday. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Piper Sandler lowered their price target on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, November 18th. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Finally, Citigroup lifted their target price on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday.

Range Resources Stock Up 1.2 %

Shares of NYSE RRC opened at $34.15 on Friday. The firm’s 50-day moving average is $32.64 and its two-hundred day moving average is $32.40. The company has a market capitalization of $8.24 billion, a PE ratio of 17.25 and a beta of 1.85. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm 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 13.69% and a net margin of 17.63%. Range Resources’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Equities analysts anticipate that Range Resources will post 1.9 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.94%. Range Resources’s dividend payout ratio (DPR) is 16.16%.

Insider Transactions at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the 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 sale, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles G. Griffie purchased 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the transaction, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Large investors have recently added to or reduced their stakes in the company. Forthright Family Wealth Advisory LLC purchased a new position in Range Resources in the third quarter valued at about $445,000. Sanctuary Advisors LLC purchased a new position in shares of Range Resources during the 3rd quarter valued at approximately $205,000. Geode Capital Management LLC grew its position in shares of Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after buying an additional 35,344 shares in the last quarter. M&T Bank Corp grew its position in shares of Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after buying an additional 327 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Range Resources by 180.8% in the third quarter. Barclays PLC now owns 222,017 shares of the oil and gas exploration company’s stock worth $6,830,000 after buying an additional 142,938 shares during the last quarter. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Company Profile

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.