Range Resources Co. (NYSE:RRC) Receives $36.10 Average Target Price from Analysts

Range Resources Co. (NYSE:RRC) has been assigned an average rating of “Hold” from the twenty ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $35.53.

Several research firms have recently weighed in on RRC. Morgan Stanley lowered their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. Wolfe Research initiated coverage on Range Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Jefferies Financial Group upped their target price on shares of Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Mizuho dropped their target price on shares of Range Resources from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, September 16th.

Range Resources Stock Performance

Shares of NYSE RRC opened at $30.74 on Monday. Range Resources has a one year low of $27.29 and a one year high of $39.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $30.11 and a 200 day simple moving average of $33.43. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 15.60 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Sell-side analysts expect that Range Resources will post 1.87 EPS for the current year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is 16.24%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in shares of Range Resources by 21.2% in the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after purchasing an additional 299 shares during the period. Perkins Coie Trust Co acquired a new position in Range Resources in the second quarter valued at about $67,000. International Assets Investment Management LLC acquired a new position in shares of Range Resources during the 2nd quarter worth about $67,000. SYSTM Wealth Solutions LLC increased its stake in shares of Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after acquiring an additional 325 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Range Resources in the 2nd quarter valued at about $107,000. 98.93% of the stock is 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.