Range Resources Corporation (NYSE:RRC) Given Average Rating of "Hold" by Analysts

Key Points

• Range Resources Corporation (NYSE:RRC) has received an average analyst rating of "Hold," with one sell rating, twelve hold ratings, and seven buy ratings from twenty analysts.
• The current average 12-month price target among analysts for Range Resources is $42.75, with some analysts recently adjusting their price objectives ranging from $36.00 to $44.00.
• Range Resources reported earnings per share of $0.66 for the last quarter, exceeding expectations, and declared a quarterly dividend of $0.09 per share, reflecting a yield of 1.0%.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.75.

Several equities analysts recently issued reports on the company. Susquehanna raised their price objective on Range Resources from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut Range Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays raised their price objective on Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. UBS Group dropped their target price on Range Resources from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Finally, Piper Sandler dropped their target price on Range Resources from $41.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th.

Range Resources Stock Performance

Shares of RRC opened at $34.68 on Monday. The business's fifty day moving average price is $35.83 and its 200 day moving average price is $37.09. Range Resources has a 12-month low of $27.55 and a 12-month high of $43.50. The stock has a market capitalization of $8.26 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.29 and a beta of 0.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.The firm had revenue of $856.28 million for the quarter, compared to analysts' expectations of $708.38 million. During the same period last year, the business posted $0.46 earnings per share. Equities research analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.0%. Range Resources's dividend payout ratio (DPR) is currently 18.09%.

Institutional Investors Weigh In On Range Resources

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Range Resources by 4.7% in the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company's stock worth $245,000 after buying an additional 270 shares during the period. Public Employees Retirement System of Ohio increased its position in Range Resources by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company's stock worth $2,981,000 after buying an additional 299 shares during the period. Bessemer Group Inc. increased its position in Range Resources by 48.0% in the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after buying an additional 315 shares during the period. ProShare Advisors LLC increased its holdings in shares of Range Resources by 3.1% during the second quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company's stock valued at $431,000 after purchasing an additional 315 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Range Resources by 1.2% during the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company's stock valued at $1,099,000 after purchasing an additional 326 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

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.

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