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

Range Resources Co. (NYSE:RRC - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-two ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $41.43.

Several research analysts have commented on the stock. Raymond James boosted their price target on shares of Range Resources from $46.00 to $55.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Piper Sandler boosted their target price on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised Range Resources from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $43.00 to $45.00 in a report on Thursday, March 13th. Finally, Stephens set a $51.00 price objective on Range Resources and gave the company an "overweight" rating in a report on Thursday, April 3rd.

Range Resources Trading Up 2.7 %

NYSE RRC traded up $0.90 during trading on Friday, hitting $34.24. The stock had a trading volume of 202,130 shares, compared to its average volume of 2,907,028. The firm has a 50 day moving average price of $37.51 and a 200 day moving average price of $35.63. 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 has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a market capitalization of $8.26 billion, a PE ratio of 17.29, a PEG ratio of 5.11 and a beta of 1.73.

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

Range Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%. This is an increase from Range Resources's previous quarterly dividend of $0.08. Range Resources's dividend payout ratio is presently 32.73%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Range Resources by 87.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after buying an additional 471 shares during the period. UMB Bank n.a. increased its holdings in shares of Range Resources by 59.0% in the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Range Resources during the fourth quarter worth about $42,000. Geneos Wealth Management Inc. purchased a new position in Range Resources in the fourth quarter valued at about $46,000. Finally, Versant Capital Management Inc lifted its position in shares of Range Resources by 42.8% during the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company's stock valued at $56,000 after acquiring an additional 463 shares during the period. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.