Range Resources Corporation (NYSE:RRC) Receives $42.76 Consensus PT from Analysts

Range Resources Corporation (NYSE:RRCGet Free Report) has been given a consensus recommendation of “Hold” by the twenty brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $43.4118.

RRC has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Citigroup dropped their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. TD Cowen lifted their target price on shares of Range Resources from $40.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Royal Bank Of Canada dropped their target price on shares of Range Resources from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Finally, Morgan Stanley dropped their target price on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd.

View Our Latest Analysis on RRC

Insider Activity

In other news, Director Brenda A. Cline sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at $1,272,859.20. This trade represents a 19.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Range Resources

Large investors have recently modified their holdings of the stock. CWA Asset Management Group LLC increased its stake in shares of Range Resources by 43.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 388,569 shares of the oil and gas exploration company’s stock worth $14,626,000 after purchasing an additional 117,722 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Range Resources by 753.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company’s stock valued at $3,394,000 after buying an additional 79,613 shares in the last quarter. Vanguard Group Inc. grew its stake in Range Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company’s stock valued at $935,425,000 after buying an additional 799,574 shares in the last quarter. Citigroup Inc. grew its stake in Range Resources by 71.0% in the 3rd quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company’s stock valued at $11,578,000 after buying an additional 127,753 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in Range Resources by 12.1% in the 3rd quarter. Congress Asset Management Co. now owns 539,285 shares of the oil and gas exploration company’s stock valued at $20,299,000 after buying an additional 58,335 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Range Resources stock opened at $42.63 on Tuesday. Range Resources has a 52 week low of $32.60 and a 52 week high of $48.31. The company’s 50 day moving average price is $42.22 and its two-hundred day moving average price is $38.54. The company has a quick ratio of 0.67, a current ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock has a market cap of $10.05 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.79 and a beta of 0.51.

Range Resources (NYSE:RRCGet Free Report) last posted its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $898.20 million. During the same quarter last year, the firm earned $0.96 EPS. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities analysts predict that Range Resources will post 3.65 earnings per share for the current year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, March 13th. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio (DPR) is 10.58%.

Range Resources News Summary

Here are the key news stories impacting Range Resources this week:

Range Resources Company Profile

(Get Free Report)

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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