Range Resources Corporation (NYSE:RRC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Range Resources Corporation (NYSE:RRC) have been assigned a consensus rating of “Hold” from the twenty analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $43.3529.

Several brokerages have issued reports on RRC. Citigroup reaffirmed a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. Wells Fargo & Company decreased their price objective on shares of Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Bank of America raised their target price on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Susquehanna reduced their target price on shares of Range Resources from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Finally, Stephens upped their price target on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in Range Resources in the 4th quarter valued at $34,000. Root Financial Partners LLC increased its position in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Range Resources during the fourth quarter worth $57,000. Western Wealth Management LLC acquired a new stake in shares of Range Resources during the first quarter worth $59,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Range Resources in the fourth quarter valued at about $61,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of NYSE RRC opened at $40.38 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $37.94 and its two-hundred day moving average price is $39.69. The company has a market cap of $9.44 billion, a PE ratio of 11.15 and a beta of 0.42. Range Resources has a twelve month low of $32.60 and a twelve month high of $48.31.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The company had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. On average, analysts predict that Range Resources will post 3.49 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s payout ratio is currently 11.05%.

About Range Resources

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.