Range Resources (NYSE:RRC) Earns Hold Rating from Benchmark

Benchmark reiterated their hold rating on shares of Range Resources (NYSE:RRC - Free Report) in a report issued on Friday morning,Benzinga reports.

A number of other analysts have also commented on the company. Stephens lifted their price target on Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Wolfe Research upgraded Range Resources from a "peer perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a research note on Friday, January 3rd. Barclays upgraded Range Resources from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their target price on Range Resources from $31.00 to $35.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $37.16.

Range Resources Trading Down 0.5 %

NYSE RRC traded down $0.20 during trading hours on Friday, hitting $41.09. 2,676,241 shares of the company's stock were exchanged, compared to its average volume of 1,988,107. The stock has a 50-day simple moving average of $35.62 and a 200 day simple moving average of $32.59. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.65. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 20.75 and a beta of 1.81. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $615.03 million during the quarter, compared to analysts' expectations of $617.90 million. During the same quarter last year, the firm posted $0.43 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts forecast that Range Resources will post 2 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources's payout ratio is 16.16%.

Insider Buying and Selling

In other news, Director Charles G. Griffie purchased 1,275 shares of the company's stock in a transaction on Thursday, October 24th. The stock was purchased at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Range Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KGH Ltd raised its position in Range Resources by 3.2% during the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company's stock valued at $203,862,000 after purchasing an additional 190,000 shares during the last quarter. Geode Capital Management LLC raised its position in Range Resources by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company's stock valued at $123,174,000 after purchasing an additional 35,344 shares during the last quarter. Canoe Financial LP raised its position in Range Resources by 9.4% during the 4th 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 purchasing an additional 251,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Range Resources by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company's stock valued at $62,065,000 after purchasing an additional 92,217 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock valued at $48,588,000 after purchasing an additional 604,199 shares during the last quarter. Institutional investors own 98.93% of the company's stock.

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.