Range Resources Corporation (NYSE:RRC) Receives Average Rating of "Hold" from Analysts

Key Points

• Range Resources Corporation has received a consensus rating of "Hold" from 20 brokerages, with 11 hold ratings, 7 buy ratings, 1 strong buy rating, and 1 sell rating.
• The company's recent quarterly earnings showed an EPS of $0.66, surpassing analysts' expectations of $0.65, with a revenue of $856.28 million compared to the consensus estimate of $708.38 million.
• Range Resources has announced a quarterly dividend of $0.09 per share, resulting in an annualized dividend yield of 1.0%.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have received a consensus rating of "Hold" from the twenty brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $43.3684.

Several equities research analysts have issued reports on RRC shares. Bank of America boosted their price objective on shares of Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays upped their target price on shares of Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Mizuho raised their price target on shares of Range Resources from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Piper Sandler boosted their price objective on shares of Range Resources from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Susquehanna upped their price objective on shares of Range Resources from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd.

Range Resources Price Performance

RRC opened at $34.36 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. Range Resources has a 52-week low of $27.55 and a 52-week high of $43.50. The company has a 50 day moving average of $38.15 and a two-hundred day moving average of $37.62. The company has a market cap of $8.18 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.27 and a beta of 0.60.

Range Resources (NYSE:RRC - Get Free Report) last released 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 net margin of 17.22% and a return on equity of 15.95%. The company had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, June 13th. Range Resources's dividend payout ratio is 18.09%.

Insider Activity

In other news, Director Reginal Spiller sold 4,200 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the sale, the director owned 13,663 shares in the company, valued at approximately $548,706.08. This represents a 23.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Range Resources by 4.7% during the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company's stock worth $245,000 after acquiring an additional 270 shares during the period. Public Employees Retirement System of Ohio raised its stake in Range Resources by 0.4% during 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 acquiring an additional 299 shares during the period. Bessemer Group Inc. raised its stake in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after acquiring an additional 315 shares during the period. ProShare Advisors LLC raised its stake in 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 worth $431,000 after acquiring an additional 315 shares during the period. Finally, Xponance Inc. raised its stake in 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 worth $1,099,000 after acquiring an additional 326 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.