Range Resources Corporation (NYSE:RRC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Range Resources Corporation has been assigned a consensus rating of "Hold" by twenty analysts, with thirteen hold ratings and seven buy ratings, and an average 1-year target price of $41.80.
• The company reported $0.66 earnings per share for the last quarter, surpassing analysts' expectations, with revenues reaching $856.28 million.
• Range Resources issued a quarterly dividend of $0.09 per share, translating to an annualized dividend yield of 0.9%, with a payout ratio of 18.09%.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $41.80.

A number of research analysts have recently weighed in on RRC shares. Roth Capital downgraded Range Resources from a "buy" rating to a "neutral" rating and cut their price target for the company from $44.00 to $35.00 in a research note on Monday, August 18th. 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. Scotiabank set a $46.00 price objective on shares of Range Resources and gave the company a "sector perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada restated a "sector perform" rating and issued a $45.00 price objective on shares of Range Resources in a research report on Tuesday, July 15th. Finally, Citigroup lowered their price objective on shares of Range Resources from $40.00 to $39.00 and set a "neutral" rating for the company in a research report on Tuesday, September 23rd.

Range Resources Stock Performance

RRC stock opened at $38.57 on Friday. The business's fifty day moving average is $35.12 and its 200-day moving average is $36.93. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market cap of $9.19 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 0.34 and a beta of 0.51. Range Resources has a twelve month low of $28.99 and a twelve month high of $43.50.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $856.28 million for the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the business posted $0.46 EPS. Equities research analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.09 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Range Resources's dividend payout ratio is currently 18.09%.

Institutional Trading of Range Resources

A number of large investors have recently made changes to their positions in RRC. Boston Partners boosted its stake in Range Resources by 6.1% in the 2nd quarter. Boston Partners now owns 7,419,508 shares of the oil and gas exploration company's stock worth $301,133,000 after purchasing an additional 425,704 shares during the period. Lingotto Investment Management LLP boosted its stake in Range Resources by 2.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 7,161,614 shares of the oil and gas exploration company's stock worth $291,263,000 after purchasing an additional 138,877 shares during the period. Invesco Ltd. boosted its stake in Range Resources by 230.1% in the 2nd quarter. Invesco Ltd. now owns 4,785,940 shares of the oil and gas exploration company's stock worth $194,644,000 after purchasing an additional 3,336,299 shares during the period. Qube Research & Technologies Ltd boosted its stake in Range Resources by 30.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,951,806 shares of the oil and gas exploration company's stock worth $120,050,000 after purchasing an additional 689,212 shares during the period. Finally, Kopernik Global Investors LLC boosted its stake in Range Resources by 5.2% in the 1st quarter. Kopernik Global Investors LLC now owns 2,846,663 shares of the oil and gas exploration company's stock worth $113,667,000 after purchasing an additional 140,043 shares during the period. 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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