Range Resources (NYSE:RRC) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of Range Resources (NYSE:RRC) in a research report released on Friday,Benzinga reports.

Several other brokerages have also weighed in on RRC. Piper Sandler dropped their price objective on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, January 3rd. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a report on Friday. Bank of America upgraded Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Finally, Mizuho boosted their price target on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.16.

Range Resources Stock Performance

Shares of RRC opened at $41.09 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $35.62 and its two-hundred day simple moving average is $32.57. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.65. The stock has a market capitalization of $9.91 billion, a P/E ratio of 20.75 and a beta of 1.81.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, analysts predict that Range Resources will post 2 EPS for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. Range Resources’s payout ratio is currently 16.16%.

Insider Transactions at Range Resources

In related news, Director Charles G. Griffie acquired 1,275 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the acquisition, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Range Resources during the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its position in Range Resources by 59.0% during the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 705 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 463 shares during the last quarter. Finally, Bogart Wealth LLC purchased a new stake in shares of Range Resources in the 3rd quarter valued at $49,000. Institutional investors own 98.93% of the company’s stock.

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.