Range Resources Co. (NYSE:RRC) Receives $36.00 Average Target Price from Brokerages

Shares of Range Resources Co. (NYSE:RRC) have been given a consensus rating of “Hold” by the twenty research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.32.

A number of research analysts have weighed in on RRC shares. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Stephens increased their price objective on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on shares of Range Resources from $35.00 to $40.00 and gave the company a “sector perform” rating in a research report on Monday, November 25th. Wells Fargo & Company increased their price target on shares of Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler cut their price objective on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Insider Activity at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the purchase, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Large investors have recently bought and sold shares of the business. M&T Bank Corp boosted its holdings in shares of Range Resources by 3.1% in the 3rd quarter. M&T Bank Corp now owns 10,790 shares of the oil and gas exploration company’s stock worth $332,000 after purchasing an additional 327 shares during the period. CIBC Asset Management Inc lifted its position in Range Resources by 5.4% in the second quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after buying an additional 350 shares during the last quarter. Commerce Bank boosted its stake in 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 worth $211,000 after buying an additional 369 shares during the period. Inscription Capital LLC increased its position in Range Resources by 3.6% during the third quarter. Inscription Capital LLC now owns 12,536 shares of the oil and gas exploration company’s stock valued at $386,000 after acquiring an additional 433 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Range Resources by 42.8% during the fourth 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 last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

Shares of RRC stock opened at $35.91 on Wednesday. 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 has a 50 day moving average price of $34.13 and a 200-day moving average price of $32.23. Range Resources has a 52 week low of $27.29 and a 52 week high of $39.33. The firm has a market capitalization of $8.67 billion, a PE ratio of 18.14 and a beta of 1.81.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts expect that Range Resources will post 1.91 earnings per share for the current year.

Range Resources Dividend Announcement

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 dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.89%. Range Resources’s dividend payout ratio is 16.16%.

About Range Resources

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.