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

Range Resources Co. (NYSE:RRC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nineteen ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $39.95.

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Bank of America raised shares of Range Resources from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Scotiabank cut shares of Range Resources from a "sector outperform" rating to a "sector perform" rating and set a $45.00 price objective on the stock. in a report on Friday, January 17th. Williams Trading set a $40.00 price objective on shares of Range Resources in a report on Wednesday, March 5th. Finally, Benchmark reaffirmed a "hold" rating on shares of Range Resources in a report on Friday, January 17th.

Institutional Trading of Range Resources

A number of hedge funds have recently bought and sold shares of RRC. Fuller & Thaler Asset Management Inc. lifted its stake in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock valued at $181,961,000 after buying an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Range Resources during the fourth quarter valued at about $33,684,000. Amundi lifted its stake in Range Resources by 233.2% during the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after buying an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after buying an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Range Resources by 37.1% during the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares in the last quarter. 98.93% of the stock is owned by hedge funds and other institutional investors.

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Range Resources Stock Performance

Shares of NYSE:RRC traded up $0.01 on Monday, reaching $39.65. 110,197 shares of the company's stock were exchanged, compared to its average volume of 2,812,040. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 5.11 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The business's 50-day moving average is $38.41 and its two-hundred day moving average is $34.58. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The company had revenue of $626.42 million for the quarter, compared to analysts' expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Range Resources's dividend payout ratio (DPR) is 32.73%.

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.