Range Resources (NYSE:RRC) Given "Hold" Rating at Benchmark

Benchmark reissued their hold rating on shares of Range Resources (NYSE:RRC - Free Report) in a research report sent to investors on Wednesday, Benzinga reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price target on Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. Wells Fargo & Company raised Range Resources from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $35.00 to $39.00 in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $39.00 price target on shares of Range Resources in a research report on Thursday, July 25th. Piper Sandler lowered Range Resources from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $43.00 to $31.00 in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price target on Range Resources from $37.00 to $31.00 and set an "underweight" rating for the company in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $35.12.

Range Resources Trading Up 3.4 %

Shares of NYSE RRC traded up $1.03 during midday trading on Wednesday, reaching $30.93. The company had a trading volume of 5,924,428 shares, compared to its average volume of 2,362,692. Range Resources has a one year low of $27.29 and a one year high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $30.19 and its 200-day moving average price is $33.09. The stock has a market cap of $7.50 billion, a PE ratio of 15.60 and a beta of 1.80.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $615.03 million during the quarter, compared to analyst estimates of $617.90 million. During the same quarter in the previous year, the company posted $0.43 EPS. Range Resources's revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Range Resources will post 1.88 earnings per share for the current year.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.03%. Range Resources's payout ratio is currently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Range Resources by 25.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company's stock valued at $985,855,000 after buying an additional 5,759,883 shares during the period. William Blair Investment Management LLC bought a new position in shares of Range Resources during the 2nd quarter valued at $78,223,000. Vanguard Group Inc. lifted its holdings in shares of Range Resources by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company's stock valued at $843,213,000 after buying an additional 959,011 shares during the period. Herr Investment Group LLC lifted its holdings in shares of Range Resources by 4,594.4% during the 1st quarter. Herr Investment Group LLC now owns 497,611 shares of the oil and gas exploration company's stock valued at $17,133,000 after buying an additional 487,011 shares during the period. Finally, Sagefield Capital LP lifted its holdings in shares of Range Resources by 44.8% during the 2nd quarter. Sagefield Capital LP now owns 906,886 shares of the oil and gas exploration company's stock valued at $30,408,000 after buying an additional 280,452 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

About Range Resources

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.