Brokerages Set Range Resources Corporation (NYSE:RRC) Target Price at $42.79

Range Resources Corporation (NYSE:RRC - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $43.05.

A number of brokerages have recently weighed in on RRC. Barclays upped their price target on shares of Range Resources from $39.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Roth Mkm raised shares of Range Resources from a "neutral" rating to a "buy" rating and upped their price target for the stock from $41.00 to $42.00 in a research note on Tuesday, April 8th. Stephens reaffirmed an "overweight" rating and set a $49.00 target price on shares of Range Resources in a report on Wednesday, April 23rd. Scotiabank set a $46.00 target price on Range Resources and gave the stock a "sector perform" rating in a report on Friday, July 11th. Finally, Bank of America lifted their target price on Range Resources from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, May 23rd.

Insider Buying and Selling at Range Resources

In other Range Resources news, CEO Dennis Degner sold 35,850 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $40.42, for a total value of $1,449,057.00. Following the transaction, the chief executive officer owned 58,431 shares of the company's stock, valued at approximately $2,361,781.02. The trade was a 38.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Funk sold 13,582 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $35.03, for a total value of $475,777.46. Following the completion of the transaction, the director directly owned 54,394 shares in the company, valued at approximately $1,905,421.82. This represents a 19.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,080 shares of company stock valued at $2,984,479 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Range Resources

Several large investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. boosted its position in shares of Range Resources by 71.3% during the fourth 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 buying an additional 2,104,304 shares during the period. Wellington Management Group LLP acquired a new position in Range Resources during the fourth quarter valued at approximately $33,684,000. King Luther Capital Management Corp boosted its position in Range Resources by 2,522.3% during the first quarter. King Luther Capital Management Corp now owns 823,650 shares of the oil and gas exploration company's stock valued at $32,888,000 after purchasing an additional 792,240 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Range Resources by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company's stock valued at $263,768,000 after purchasing 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 fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company's stock valued at $80,554,000 after buying an additional 605,315 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Range Resources Stock Up 0.2%

RRC stock traded up $0.06 during trading on Friday, reaching $35.71. The stock had a trading volume of 7,565,977 shares, compared to its average volume of 2,584,992. Range Resources has a 1-year low of $27.29 and a 1-year high of $43.50. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $8.53 billion, a P/E ratio of 17.94, a PEG ratio of 0.30 and a beta of 0.63. The firm has a fifty day moving average price of $39.43 and a 200 day moving average price of $38.06.

Range Resources (NYSE:RRC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $856.28 million during the quarter, compared to analysts' expectations of $708.38 million. Range Resources had a return on equity of 16.17% and a net margin of 17.22%. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts anticipate that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 13th. Range Resources's dividend payout ratio is presently 32.14%.

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.