Range Resources Co. (NYSE:RRC) Given Average Recommendation of "Hold" by Analysts

Shares of Range Resources Co. (NYSE:RRC - Get Free Report) have earned an average rating of "Hold" from the eighteen analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $34.89.

A number of research analysts have issued reports on RRC shares. Stifel Nicolaus lowered their price objective on Range Resources from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, January 23rd. Raymond James decreased their price target on Range Resources from $37.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, January 24th. Piper Sandler decreased their price target on Range Resources from $42.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, March 7th. Morgan Stanley boosted their price target on Range Resources from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Scotiabank decreased their price target on Range Resources from $43.00 to $40.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 16th.

Range Resources Stock Up 1.1 %

NYSE:RRC traded up $0.38 during trading hours on Monday, reaching $34.81. 1,847,052 shares of the company traded hands, compared to its average volume of 2,649,628. The business's 50-day moving average price is $31.13 and its two-hundred day moving average price is $31.84. The stock has a market capitalization of $8.43 billion, a P/E ratio of 9.83 and a beta of 1.83. Range Resources has a 1 year low of $23.92 and a 1 year high of $37.88. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.47.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas exploration company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.21. The business had revenue of $941.40 million during the quarter, compared to analysts' expectations of $672.25 million. Range Resources had a return on equity of 15.87% and a net margin of 25.82%. The firm's quarterly revenue was down 42.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. Analysts predict that Range Resources will post 1.98 earnings per share for the current year.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources's dividend payout ratio (DPR) is 9.04%.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently made changes to their positions in RRC. Raleigh Capital Management Inc. bought a new position in shares of Range Resources in the third quarter worth about $26,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Range Resources by 333.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company's stock worth $26,000 after acquiring an additional 666 shares during the period. Cary Street Partners Investment Advisory LLC bought a new position in shares of Range Resources in the third quarter worth about $27,000. Lazard Asset Management LLC bought a new position in shares of Range Resources in the second quarter worth about $28,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Range Resources in the third quarter worth about $32,000. Institutional investors own 98.93% of the company's stock.

Range Resources Company Profile

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.