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

Range Resources Corporation (NYSE:RRC - Get Free Report) has earned a consensus rating of "Hold" from the twenty-one brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.95.

RRC has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Range Resources from $35.00 to $37.00 and gave the stock a "hold" rating in a report on Monday, March 17th. UBS Group lifted their price objective on Range Resources from $36.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Piper Sandler increased their target price on Range Resources from $32.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Citigroup cut Range Resources from a "neutral" rating to a "reduce" rating in a report on Wednesday, March 5th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $42.00 target price on shares of Range Resources in a research report on Friday, April 11th.

Insider Buying and Selling at Range Resources

In other news, Director Reginal Spiller sold 4,200 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total transaction of $168,672.00. Following the completion of the transaction, the director now directly owns 13,663 shares of the company's stock, valued at $548,706.08. This trade represents a 23.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $39.00, for a total transaction of $502,320.00. Following the completion of the sale, the vice president now directly owns 1,723 shares in the company, valued at approximately $67,197. This represents a 88.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,080 shares of company stock valued at $2,984,479 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its position in shares of Range Resources by 246.1% in the first quarter. Voya Investment Management LLC now owns 135,996 shares of the oil and gas exploration company's stock valued at $5,430,000 after acquiring an additional 96,701 shares during the last quarter. Howe & Rusling Inc. boosted its position in Range Resources by 1.1% during the first quarter. Howe & Rusling Inc. now owns 262,382 shares of the oil and gas exploration company's stock valued at $10,477,000 after purchasing an additional 2,908 shares during the last quarter. Strs Ohio bought a new position in Range Resources in the first quarter valued at approximately $1,211,000. Acadian Asset Management LLC increased its position in shares of Range Resources by 2,646.3% during the 1st quarter. Acadian Asset Management LLC now owns 75,139 shares of the oil and gas exploration company's stock worth $3,000,000 after purchasing an additional 72,403 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Range Resources during the 1st quarter worth approximately $285,000. 98.93% of the stock is owned by institutional investors.

Range Resources Trading Up 0.7%

NYSE:RRC traded up $0.31 during trading hours on Wednesday, hitting $41.22. 2,275,365 shares of the stock were exchanged, compared to its average volume of 2,501,236. The company has a market capitalization of $9.85 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 0.32 and a beta of 0.63. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $38.50 and its two-hundred day moving average is $37.67. Range Resources has a twelve month low of $27.29 and a twelve month high of $43.50.

Range Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

About Range Resources

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.