Range Resources (NYSE:RRC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Range Resources (NYSE:RRC) from a hold rating to a sell rating in a research report report published on Wednesday.

Other research analysts have also issued reports about the stock. Williams Trading set a $40.00 price objective on shares of Range Resources in a research note on Wednesday, March 5th. UBS Group lifted their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Finally, Piper Sandler lifted their target price on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Range Resources presently has a consensus rating of “Hold” and a consensus price target of $39.95.

Range Resources Trading Down 1.1 %

RRC stock opened at $39.84 on Wednesday. The firm has a fifty day moving average price of $38.56 and a 200 day moving average price of $34.73. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $9.61 billion, a PE ratio of 20.12, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is currently 32.73%.

Institutional Inflows and Outflows

A number of 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 in the 3rd quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its stake in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 471 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Range Resources by 59.0% in 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 buying an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Range Resources in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors 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.