Range Resources Corporation (NYSE:RRC) Receives Average Recommendation of "Hold" from Brokerages

Range Resources Corporation (NYSE:RRC - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $42.79.

RRC has been the topic of several research reports. UBS Group upped their target price on Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Bank of America upped their target price on Range Resources from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Susquehanna cut their target price on Range Resources from $40.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Barclays upped their target price on Range Resources from $39.00 to $44.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 price target on shares of Range Resources in a research report on Tuesday, July 15th.

Range Resources Stock Up 0.2%

Range Resources stock opened at $38.26 on Friday. The business has a fifty day moving average of $39.60 and a two-hundred day moving average of $38.07. 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 firm has a market cap of $9.14 billion, a P/E ratio of 34.16, a P/E/G ratio of 0.32 and a beta of 0.63. Range Resources has a twelve month low of $27.29 and a twelve month high of $43.50.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.94%. Range Resources's dividend payout ratio (DPR) is presently 32.14%.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 4,200 shares of Range Resources stock in a transaction 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 sale, the director directly owned 13,663 shares of the company's stock, valued at approximately $548,706.08. The trade was a 23.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ashley Kavanaugh sold 12,880 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $39.00, for a total value of $502,320.00. Following the transaction, the vice president directly owned 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. Over the last quarter, insiders have sold 76,080 shares of company stock valued at $2,984,479. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its holdings in Range Resources by 71.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company's stock worth $181,961,000 after acquiring an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP acquired a new position in Range Resources during the 4th quarter worth $33,684,000. King Luther Capital Management Corp lifted its position in shares of Range Resources by 2,522.3% in the 1st quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company's stock worth $32,888,000 after buying an additional 792,240 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Range Resources by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock worth $263,768,000 after buying an additional 624,955 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Range Resources by 37.1% in the 4th quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock worth $80,554,000 after buying an additional 605,315 shares during the last quarter. Hedge funds and other institutional investors 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.

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