Range Resources Co. (NYSE:RRC) Receives $39.84 Average Price Target from Brokerages

Range Resources Co. (NYSE:RRC) has been assigned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.95.

A number of equities analysts have recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Citigroup lowered Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Stephens boosted their target price on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. StockNews.com lowered Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Piper Sandler boosted their target price on Range Resources from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th.

Range Resources Price Performance

RRC opened at $40.48 on Monday. The stock has a 50-day moving average price of $38.47 and a 200-day moving average price of $34.62. Range Resources has a 12-month low of $27.29 and a 12-month high of $41.95. 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 stock has a market capitalization of $9.77 billion, a P/E ratio of 20.44, a PEG ratio of 5.11 and a beta of 1.80.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period in the prior year, the business earned $0.63 EPS. Equities analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. Range Resources’s dividend payout ratio is presently 32.73%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Range Resources in the 3rd quarter worth approximately $25,000. Smartleaf Asset Management LLC raised its position in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 471 shares in the last quarter. UMB Bank n.a. raised its position 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 acquiring an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Range Resources in the 4th quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the 4th quarter worth approximately $46,000. 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.