Range Resources Corporation (NYSE:RRC) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Range Resources, with 14 hold, three buy, one strong-buy and two sell ratings. The average 12-month price target is $43.35, above the reported opening price of $39.97.
• Range Resources exceeded quarterly expectations, reporting $0.79 in EPS versus the $0.66 consensus estimate and revenue of $759.58 million. However, revenue declined 2.7% year over year.
• The company paid a quarterly dividend of $0.10 per share, representing an annualized dividend of $0.40 and a 1.0% yield; institutional investors and hedge funds own approximately 98.93% of the stock.

Range Resources Corporation (NYSE:RRC - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.3529.

A number of equities research analysts have recently commented on RRC shares. Bank of America increased their price objective on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Truist Financial decreased their target price on Range Resources from $46.00 to $43.00 and set a "hold" rating on the stock in a report on Friday, July 10th. Freedom Capital raised Range Resources from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Zacks Research downgraded Range Resources from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Weiss Ratings lowered Range Resources from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd.

Range Resources Stock Performance

Shares of RRC opened at $39.97 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.65 and a quick ratio of 0.65. The firm's 50 day moving average is $38.00 and its 200-day moving average is $39.55. Range Resources has a 12-month low of $32.60 and a 12-month high of $48.31. The stock has a market capitalization of $9.34 billion, a P/E ratio of 11.04 and a beta of 0.41.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. The business had revenue of $759.58 million during the quarter, compared to analyst estimates of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts anticipate that Range Resources will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Range Resources's dividend payout ratio is currently 11.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners raised its holdings in shares of Range Resources by 59.3% during the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company's stock valued at $445,196,000 after acquiring an additional 4,398,042 shares during the period. AQR Capital Management LLC boosted its stake in Range Resources by 517.6% in the 3rd quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company's stock worth $91,852,000 after purchasing an additional 2,045,165 shares during the period. UBS Group AG grew its position in Range Resources by 66.3% during the 4th quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company's stock worth $126,532,000 after purchasing an additional 1,430,477 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Range Resources during the 1st quarter worth approximately $64,481,000. Finally, Morgan Stanley raised its stake in Range Resources by 54.1% during the 4th quarter. Morgan Stanley now owns 3,267,227 shares of the oil and gas exploration company's stock valued at $115,202,000 after purchasing an additional 1,147,304 shares during the period. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Company Profile

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.

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