Range Resources Corporation (NYSE:RRC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Range Resources, with 15 holds, three buys, one strong buy and one sell among 20 analysts. The average 12-month price target is $44.29, above the cited share price of $39.12.
• Range Resources beat quarterly expectations, reporting $0.79 earnings per share versus the $0.66 consensus estimate and revenue of $759.6 million. However, revenue declined 2.7% year over year.
• The company declared a quarterly dividend of $0.10 per share, equivalent to an annualized $0.40 payout and a 1.0% yield; institutional investors own approximately 98.93% of the stock.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $44.2941.

Several brokerages recently weighed in on RRC. Truist Financial cut their price target on Range Resources from $46.00 to $43.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Stephens increased their price target on Range Resources from $52.00 to $53.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their price objective on Range Resources from $44.00 to $43.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 19th. Barclays boosted their price objective on Range Resources from $40.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 8th. Finally, Stifel Nicolaus assumed coverage on Range Resources in a research note on Thursday, September 10th. They set a "hold" rating and a $46.00 target price for the company.

Range Resources Trading Up 0.7%

Shares of NYSE:RRC opened at $39.12 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18. Range Resources has a 12-month low of $32.68 and a 12-month high of $48.31. The business has a 50 day moving average of $39.79 and a two-hundred day moving average of $40.61. The company has a market capitalization of $9.14 billion, a PE ratio of 10.81 and a beta of 0.43.

Range Resources (NYSE:RRC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. As a group, analysts forecast that Range Resources will post 3.65 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio is currently 11.05%.

Insider Transactions at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of Range Resources stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at $536,840. This trade represents a 20.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in Range Resources by 89.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,811 shares of the oil and gas exploration company's stock worth $402,000 after buying an additional 5,092 shares during the last quarter. Tidal Investments LLC increased its stake in Range Resources by 62.8% during the 2nd quarter. Tidal Investments LLC now owns 73,725 shares of the oil and gas exploration company's stock worth $2,742,000 after buying an additional 28,438 shares in the last quarter. SailingStone Capital Partners LLC raised its holdings in shares of Range Resources by 53.2% during the second quarter. SailingStone Capital Partners LLC now owns 1,504,350 shares of the oil and gas exploration company's stock valued at $55,947,000 after acquiring an additional 522,319 shares during the last quarter. Engineers Gate Manager LP raised its holdings in shares of Range Resources by 1,413.1% during the second quarter. Engineers Gate Manager LP now owns 197,380 shares of the oil and gas exploration company's stock valued at $7,341,000 after acquiring an additional 184,335 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Range Resources in the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 98.93% of the company's stock.

About Range Resources

Range Resources Corporation NYSE: RRC is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company's production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.

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