Range Resources Co. (NYSE:RRC) Given Average Rating of “Hold” by Analysts

Shares of Range Resources Co. (NYSE:RRC) have received an average rating of “Hold” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $41.50.

RRC has been the subject of several research analyst reports. Piper Sandler reduced their target price on Range Resources from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. 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 report on Monday, January 13th. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research note on Friday, January 17th. Stephens reaffirmed an “overweight” rating and set a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of Range Resources in a report on Friday, April 11th.

Insiders Place Their Bets

In related news, Director James M. Funk sold 13,582 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $35.03, for a total transaction of $475,777.46. Following the completion of the sale, the director now directly owns 54,394 shares in the company, valued at $1,905,421.82. This represents a 19.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.

Institutional Trading of Range Resources

Several large investors have recently added to or reduced their stakes in the stock. Boston Partners boosted its position in Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company’s stock valued at $287,078,000 after acquiring an additional 371,777 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after purchasing an additional 624,955 shares in the last quarter. Lingotto Investment Management LLP grew its stake in Range Resources by 2.5% in the fourth quarter. Lingotto Investment Management LLP now owns 6,864,038 shares of the oil and gas exploration company’s stock worth $246,968,000 after purchasing an additional 165,242 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Range Resources by 71.3% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock worth $181,961,000 after purchasing an additional 2,104,304 shares in the last quarter. Finally, Canoe Financial LP lifted its position in Range Resources by 9.4% during the fourth quarter. Canoe Financial LP now owns 2,911,509 shares of the oil and gas exploration company’s stock valued at $104,595,000 after buying an additional 251,200 shares during the period. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $37.86 on Tuesday. The company’s fifty day simple moving average is $36.20 and its 200-day simple moving average is $36.11. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.05 billion, a PE ratio of 19.12, a P/E/G ratio of 5.11 and a beta of 0.60. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95.

Range Resources (NYSE:RRC) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, beating 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 the consensus estimate of $676.53 million. During the same period last year, the company earned $0.63 earnings per share. Equities research analysts expect that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date 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 0.95%. Range Resources’s dividend payout ratio is 32.14%.

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.