Range Resources Co. (NYSE:RRC) Receives $37.22 Consensus Target Price from Analysts

Range Resources Co. (NYSE:RRC) has received an average recommendation of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.22.

Several research firms have recently weighed in on RRC. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective for the company. in a research report on Friday, January 17th. Wells Fargo & Company lifted their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Wednesday, October 2nd. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, January 3rd.

Institutional Investors Weigh In On Range Resources

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

Range Resources Stock Up 0.4 %

NYSE:RRC opened at $37.41 on Friday. Range Resources has a one year low of $27.29 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $9.03 billion, a PE ratio of 18.89 and a beta of 1.81. The firm’s 50 day simple moving average is $36.42 and its 200 day simple moving average is $32.85.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Range Resources’s payout ratio is 16.16%.

About Range Resources

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.