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

Shares of Range Resources Co. (NYSE:RRC) have been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $38.83.

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research report on Tuesday, January 14th. Benchmark restated a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Finally, Barclays lifted their target price on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th.

Institutional Trading of Range Resources

Large investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its holdings in shares of 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. Canoe Financial LP grew its stake in Range Resources by 114.9% during the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after acquiring an additional 1,422,200 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Range Resources in the 4th quarter valued at about $33,684,000. Amundi lifted its position in shares of Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock worth $44,308,000 after purchasing an additional 826,530 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $263,768,000 after purchasing an additional 624,955 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Up 2.6 %

RRC opened at $38.49 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The stock’s 50 day moving average price is $37.82 and its 200 day moving average price is $33.86. The stock has a market cap of $9.29 billion, a P/E ratio of 19.44, a P/E/G ratio of 5.11 and a beta of 1.78.

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

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 13th. 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.