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

Key Points

• Range Resources has an average analyst rating of “Hold” from 21 brokerages, with a consensus 12-month price target of about $43.33.
• Recent analyst moves were mixed: Barclays and Truist adjusted targets modestly, Goldman Sachs cut its price target to $39 with a neutral view, while Freedom Capital upgraded the stock to strong-buy.
• The company reported strong quarterly results, posting $1.52 EPS versus $1.25 expected and revenue of $1.07 billion, up 49.8% year over year; it also paid a $0.10 quarterly dividend for a 1.1% yield.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have been given an average recommendation of "Hold" by the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $43.3333.

Several analysts recently weighed in on RRC shares. Barclays lifted their price target on Range Resources from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Truist Financial lowered their price objective on Range Resources from $48.00 to $46.00 and set a "hold" rating on the stock in a research report on Thursday, April 9th. Weiss Ratings downgraded Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group dropped their target price on Range Resources from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Finally, Freedom Capital raised shares of Range Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th.

Range Resources Stock Down 0.1%

Shares of RRC opened at $37.75 on Friday. The firm has a market cap of $8.90 billion, a P/E ratio of 9.99 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.55 and a current ratio of 0.55. Range Resources has a 52 week low of $32.60 and a 52 week high of $48.31. The firm's 50-day simple moving average is $39.68 and its 200 day simple moving average is $39.22.

Range Resources (NYSE:RRC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.27. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. During the same period last year, the business posted $0.96 earnings per share. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. On average, analysts forecast that Range Resources will post 3.6 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.10 dividend. 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 1.1%. Range Resources's payout ratio is currently 10.58%.

Insider Transactions 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 value of $310,800.00. Following the completion of the sale, the director directly owned 28,668 shares in the company, valued at approximately $1,272,859.20. The trade was a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently added to or reduced their stakes in RRC. Empowered Funds LLC lifted its position in shares of Range Resources by 2.1% during the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company's stock valued at $3,029,000 after acquiring an additional 1,563 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company's stock valued at $18,639,000 after purchasing an additional 8,816 shares in the last quarter. Focus Partners Wealth acquired a new position in Range Resources in the first quarter valued at about $285,000. EverSource Wealth Advisors LLC raised its stake in Range Resources by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company's stock valued at $119,000 after purchasing an additional 1,139 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company's stock worth $16,701,000 after purchasing an additional 30,481 shares during the period. Institutional investors own 98.93% of the company's stock.

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.

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