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

Shares of Range Resources Co. (NYSE:RRC - Get Free Report) have been given a consensus rating of "Hold" by the twenty brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $35.00.

Several research firms have recently commented on RRC. Stephens upped their price objective on Range Resources from $36.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Benchmark reissued a "hold" rating on shares of Range Resources in a report on Wednesday, October 23rd. Mizuho reduced their price target on shares of Range Resources from $45.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, October 9th. Piper Sandler downgraded shares of Range Resources from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Finally, Wells Fargo & Company decreased their target price on Range Resources from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Friday, October 25th.

Range Resources Stock Performance

RRC traded down $0.37 during mid-day trading on Tuesday, reaching $34.09. 2,262,554 shares of the company traded hands, compared to its average volume of 2,359,580. The stock has a market capitalization of $8.23 billion, a P/E ratio of 17.22 and a beta of 1.80. Range Resources has a 52-week low of $27.29 and a 52-week high of $39.33. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company's fifty day moving average price is $30.54 and its 200-day moving average price is $32.66.

Range Resources (NYSE:RRC - Get Free Report) last posted 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 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Range Resources's revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Range Resources will post 1.87 EPS for the current year.

Range Resources Announces Dividend

The firm 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 0.94%. Range Resources's dividend payout ratio is presently 16.16%.

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 shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares of the company's stock, valued at approximately $304,121.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles G. Griffie bought 1,275 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $31.46 per share, for a total transaction of $40,111.50. Following the purchase, the director now owns 5,921 shares in the company, valued at $186,274.66. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Range Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after acquiring an additional 705 shares during the period. Bogart Wealth LLC acquired a new position in shares of Range Resources in the 3rd quarter worth approximately $49,000. Fifth Third Bancorp raised its position in Range Resources by 21.2% in the second 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 during the second quarter worth $67,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Range Resources during the second quarter worth $67,000. Institutional investors and hedge funds 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.