Range Resources Corporation (NYSE:RRC) Stock Has Consensus Target Price of $46.22 According to Brokerages

Key Points

• Analysts largely recommend holding Range Resources: Of 24 analysts, 19 rate the stock Hold, while three rate it Buy, one Strong Buy and one Sell. The average 12-month price target is $46.22.
• Latest quarterly results beat expectations: Range Resources reported earnings of $0.81 per share versus the $0.75 consensus and revenue of $842.83 million versus expectations of $795.19 million; revenue rose 12.6% year over year.
• Institutional investors own 98.93% of the company’s shares. Range Resources also pays a quarterly dividend of $0.10 per share, equivalent to a 0.8% annualized yield.

Range Resources Corporation (NYSE:RRC - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-four analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $46.22.

Several analysts have weighed in on the stock. Barclays boosted their price target on shares of Range Resources from $40.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 8th. Weiss Ratings lowered shares of Range Resources from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $37.00 price target on shares of Range Resources in a research note on Tuesday, October 20th. Citigroup reaffirmed a "neutral" rating on shares of Range Resources in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus started coverage on Range Resources in a report on Thursday, September 10th. They set a "hold" rating and a $46.00 price target on the stock.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Range Resources in the second quarter valued at approximately $26,000. Heritage Family Offices LLP acquired a new stake in shares of Range Resources during the third quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Range Resources during the 2nd quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in Range Resources in the third quarter valued at about $35,000. Finally, Ameritas Advisory Services LLC purchased a new position in Range Resources during the 2nd quarter valued at about $44,000. Institutional investors own 98.93% of the company's stock.

Range Resources Trading Down 2.9%

Shares of Range Resources stock opened at $48.72 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $11.39 billion, a PE ratio of 12.92 and a beta of 0.64. The stock has a fifty day moving average price of $43.23 and a 200-day moving average price of $40.77. Range Resources has a 1 year low of $32.68 and a 1 year high of $56.90.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Range Resources had a return on equity of 19.15% and a net margin of 25.25%. The company had revenue of $842.83 million during the quarter, compared to analysts' expectations of $795.19 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm's revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Range Resources will post 3.85 EPS for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, September 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Range Resources's payout ratio is currently 10.61%.

Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids and oil exploration and production company. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania, where the company develops unconventional wells and produces natural gas, condensate and natural gas liquids.

The company's activities include leasing and developing mineral properties, drilling and completing horizontal wells, and producing and marketing hydrocarbons.

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