Brokerages Set Range Resources Co. (NYSE:RRC) PT at $35.06

Range Resources Co. (NYSE:RRC - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty research firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.06.

RRC has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Range Resources from $30.00 to $27.00 and set a "sell" rating for the company in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Range Resources in a report on Monday, October 28th. They issued a "neutral" rating and a $34.00 target price on the stock. Benchmark reiterated a "hold" rating on shares of Range Resources in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on Range Resources from $40.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, September 6th. Finally, Piper Sandler cut their target price on Range Resources from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Monday, November 18th.

Insiders Place Their Bets

In related news, VP Ashley Kavanaugh sold 12,700 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were 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 trade represents a 56.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles G. Griffie acquired 1,275 shares of Range Resources stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.57% of the company's stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds have recently made changes to their positions in RRC. Brooklyn Investment Group bought a new position in Range Resources in the 3rd quarter worth about $25,000. Blue Trust Inc. lifted its holdings in shares of Range Resources by 107.8% in the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company's stock worth $46,000 after buying an additional 705 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Range Resources in the third quarter valued at approximately $49,000. Fifth Third Bancorp grew its stake in Range Resources by 21.2% during 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 acquiring an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new stake in Range Resources during the 2nd quarter worth approximately $67,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 2.2 %

Shares of RRC stock traded down $0.75 on Friday, reaching $33.75. 2,005,348 shares of the company were exchanged, compared to its average volume of 1,916,271. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day moving average of $32.57 and a 200-day moving average of $32.48. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 17.05 and a beta of 1.85. Range Resources has a one year low of $27.29 and a one year high of $39.33.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. The business had revenue of $615.03 million for the quarter, compared to analyst estimates of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts anticipate that Range Resources will post 1.9 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, December 13th. Range Resources's dividend payout ratio (DPR) is 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.