Range Resources Co. (NYSE:RRC) Receives Consensus Recommendation of "Hold" from Brokerages

Range Resources Co. (NYSE:RRC - Get Free Report) has been assigned an average rating of "Hold" from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $38.78.

RRC has been the topic of a number of analyst reports. Barclays boosted their target price on shares of Range Resources from $34.00 to $40.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. UBS Group boosted their target price on shares of Range Resources from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Piper Sandler boosted their target price on shares of Range Resources from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Mizuho boosted their target price on shares of Range Resources from $40.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, December 16th. Finally, StockNews.com raised shares of Range Resources to a "sell" rating in a report on Wednesday, November 27th.

Institutional Trading of Range Resources

Several institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp boosted its position in Range Resources by 3.1% during the third quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company's stock valued at $332,000 after buying an additional 327 shares during the period. Commerce Bank raised its stake in shares of Range Resources by 5.7% during the third quarter. Commerce Bank now owns 6,848 shares of the oil and gas exploration company's stock valued at $211,000 after acquiring an additional 369 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Range Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,435 shares of the oil and gas exploration company's stock valued at $268,000 after acquiring an additional 378 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Range Resources by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,120 shares of the oil and gas exploration company's stock valued at $508,000 after acquiring an additional 379 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in shares of Range Resources by 1.3% during the fourth quarter. King Luther Capital Management Corp now owns 31,410 shares of the oil and gas exploration company's stock valued at $1,130,000 after acquiring an additional 390 shares during the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

RRC stock traded down $1.08 during midday trading on Thursday, reaching $38.59. 877,336 shares of the company's stock traded hands, compared to its average volume of 2,528,496. The company has a 50-day moving average price of $37.52 and a two-hundred day moving average price of $33.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The firm has a market capitalization of $9.31 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 5.14 and a beta of 1.77.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.83%. Range Resources's dividend payout ratio (DPR) is presently 16.16%.

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.