Brokerages Set Range Resources Corporation (NYSE:RRC) Price Target at $43.37

Range Resources Corporation (NYSE:RRC) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $42.75.

RRC has been the subject of several research analyst reports. Mizuho upped their price objective on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Stephens reaffirmed an “overweight” rating and issued a $49.00 price objective on shares of Range Resources in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Range Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Barclays upped their price objective on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th.

Range Resources Stock Performance

Shares of RRC opened at $33.0180 on Thursday. Range Resources has a 1 year low of $27.55 and a 1 year high of $43.50. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 0.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a fifty day moving average of $37.65 and a 200-day moving average of $37.49.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a net margin of 17.22% and a return on equity of 15.95%. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, equities analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 1.1%. Range Resources’s payout ratio is 18.09%.

Insider Buying and Selling

In other Range Resources news, Director Reginal Spiller sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the sale, the director directly owned 13,663 shares in the company, valued at approximately $548,706.08. The trade was a 23.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its position in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock worth $31,000 after acquiring an additional 703 shares in the last quarter. Hollencrest Capital Management bought a new stake in Range Resources in the first quarter worth about $33,000. Bessemer Group Inc. raised its position in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 315 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Range Resources in the first quarter worth about $39,000. Finally, Barrett & Company Inc. bought a new stake in Range Resources in the second quarter worth about $41,000. 98.93% of the stock is currently owned by institutional investors.

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.