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

Key Points

• Analyst consensus: Twenty brokerages assign Range Resources an average recommendation of "Hold" (1 sell, 15 hold, 4 buy) with a mean 1‑year price target of $42.76.
• Recent results: The company reported quarterly EPS of $0.82 (beat $0.69) and revenue of $786.9M, up 30.9% year‑over‑year, and analysts forecast about 3.44 EPS for the fiscal year.
• Insider and ownership activity: Director Brenda A. Cline sold 7,000 shares at $44.40, insiders own 1.10% of shares while institutional investors hold roughly 98.93% of the stock.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $42.7647.

Several equities research analysts have weighed in on RRC shares. Citigroup lowered their price objective on shares of Range Resources from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Range Resources from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, February 27th. TD Cowen raised their price objective on shares of Range Resources from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Tuesday, March 17th. Wells Fargo & Company raised their price objective on shares of Range Resources from $43.00 to $46.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Finally, Morgan Stanley lowered their price target on shares of Range Resources from $42.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, January 23rd.

Insider Activity at Range Resources

In other news, Director Brenda A. Cline sold 7,000 shares of Range Resources stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total transaction of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $34,000. True Wealth Design LLC grew its position in shares of Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 541 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 336 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $57,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Range Resources during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Trading Down 1.4%

RRC opened at $41.14 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.69 billion, a PE ratio of 15.01, a PEG ratio of 0.33 and a beta of 0.51. Range Resources has a 1-year low of $32.08 and a 1-year high of $48.31. The firm has a 50-day moving average price of $41.85 and a two-hundred day moving average price of $38.46.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.13. The firm had revenue of $786.89 million during the quarter, compared to analysts' expectations of $770.92 million. Range Resources had a net margin of 21.12% and a return on equity of 16.31%. The company's quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. As a group, equities analysts anticipate that Range Resources will post 3.44 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.10 per share. The ex-dividend date was Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. This is a positive change from Range Resources's previous quarterly dividend of $0.09. Range Resources's dividend payout ratio is presently 14.60%.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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.