Range Resources Corporation (NYSE:RRC) Stock Has Average Price Target of $44.00

Key Points

• Analysts maintain a “Hold” consensus on Range Resources, with 16 hold ratings, two buys, one strong buy and one sell. The average 12-month price target is $44.00 versus the stock’s reported price of $41.40.
• Range Resources exceeded quarterly expectations, reporting $0.79 EPS versus the $0.66 consensus estimate and $759.58 million in revenue. However, revenue declined 2.7% year over year.
• The company paid a quarterly dividend of $0.10 per share, equal to a 1.0% annualized yield, while institutional investors own 98.93% of outstanding shares; an insider recently reduced holdings by selling 3,500 shares.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have received a consensus rating of "Hold" from the twenty research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $44.00.

Several equities research analysts have recently weighed in on RRC shares. Barclays increased their price objective on shares of Range Resources from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 8th. Wells Fargo & Company decreased their target price on Range Resources from $46.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, July 23rd. Citigroup restated a "neutral" rating on shares of Range Resources in a research note on Thursday, July 23rd. The Goldman Sachs Group lowered their target price on Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Finally, UBS Group lowered their price target on shares of Range Resources from $49.00 to $44.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd.

Insider Activity at Range Resources

In other news, Director Reginal Spiller sold 3,500 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director directly owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Range Resources during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in Range Resources in the 2nd quarter worth approximately $31,000. Root Financial Partners LLC boosted its stake in Range Resources by 37.8% in the first quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company's stock worth $45,000 after buying an additional 276 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Range Resources in the second quarter worth approximately $44,000. Finally, Trust Co. of Vermont purchased a new stake in Range Resources in the second quarter worth approximately $45,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Performance

NYSE:RRC opened at $41.40 on Tuesday. The company has a market capitalization of $9.68 billion, a PE ratio of 11.44 and a beta of 0.71. The company has a 50 day simple moving average of $40.11 and a two-hundred day simple moving average of $40.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. Range Resources has a fifty-two week low of $32.68 and a fifty-two week high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping 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 company's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. Research analysts anticipate that Range Resources will post 3.74 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, September 11th. Range Resources's dividend payout ratio (DPR) is 11.05%.

Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil producer headquartered in Fort Worth, Texas. The company explores for, develops and produces hydrocarbons, with a primary focus on unconventional shale resources in the Appalachian Basin.

Range's principal operating area is the Marcellus Shale in southwestern Pennsylvania, where it produces natural gas, NGLs and condensate. Its products are sold to customers through regional and interstate pipeline systems and other market channels serving utilities, industrial users, power generators and other energy markets.

Founded in 1976, Range Resources has historically operated in several U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.