Range Resources Co. (NYSE:RRC) Receives Consensus Rating of “Hold” from Analysts

Shares of Range Resources Co. (NYSE:RRC) have earned an average rating of “Hold” from the twenty-two research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.71.

Several equities research analysts have weighed in on RRC shares. Raymond James upped their target price on Range Resources from $46.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. UBS Group reduced their price objective on Range Resources from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. raised Range Resources from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $43.00 to $45.00 in a research note on Thursday, March 13th. Roth Capital upgraded shares of Range Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Piper Sandler upped their price objective on shares of Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th.

Range Resources Stock Performance

RRC opened at $32.25 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 52-week low of $27.29 and a 52-week high of $41.95. The firm has a market cap of $7.78 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73. The business’s fifty day moving average is $37.79 and its 200-day moving average is $35.57.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. During the same period last year, the firm earned $0.63 EPS. Sell-side analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.12%. Range Resources’s dividend payout ratio (DPR) is 32.73%.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in RRC. Lmcg Investments LLC boosted its holdings in shares of Range Resources by 1.4% during the 1st quarter. Lmcg Investments LLC now owns 151,471 shares of the oil and gas exploration company’s stock worth $6,048,000 after buying an additional 2,106 shares in the last quarter. Portside Wealth Group LLC bought a new position in Range Resources during the first quarter worth $260,000. Merit Financial Group LLC acquired a new stake in Range Resources in the first quarter worth $218,000. Harbor Investment Advisory LLC bought a new stake in Range Resources in the first quarter valued at $799,000. Finally, 180 Wealth Advisors LLC acquired a new position in shares of Range Resources during the first quarter valued at about $214,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

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.