Range Resources Corporation (NYSE:RRC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Range Resources has a consensus analyst rating of “Hold”, with 20 firms covering the stock; the average 12-month price target is $44.00.
• The company beat its latest earnings expectations, reporting $1.52 EPS versus $1.25 expected and revenue of $1.07 billion versus $898.2 million estimated, with revenue up 49.8% year over year.
• Range Resources also announced a quarterly dividend of $0.10 per share, payable June 26, which works out to a 1.0% annualized yield.

Shares of Range Resources Corporation (NYSE:RRC - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $44.00.

Several analysts recently commented on RRC shares. Bank of America lifted their target price on shares of Range Resources from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Tuesday, April 21st. TD Cowen lifted their target price on shares of Range Resources from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, March 17th. Piper Sandler lifted their target price on shares of Range Resources from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. Morgan Stanley lifted their target price on shares of Range Resources from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Range Resources from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 2nd.

Range Resources Stock Down 1.7%

Range Resources stock opened at $38.44 on Wednesday. The firm has a market capitalization of $9.06 billion, a PE ratio of 10.17 and a beta of 0.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55. The company's 50-day moving average is $41.74 and its 200-day moving average is $39.37. Range Resources has a fifty-two week low of $32.60 and a fifty-two week high of $48.31.

Range Resources (NYSE:RRC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. Range Resources's revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. Sell-side analysts anticipate that Range Resources will post 3.7 earnings per share for the current year.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Range Resources's payout ratio is presently 10.58%.

Insider Activity at Range Resources

In other Range Resources news, Director Brenda A. Cline sold 7,000 shares of the business's stock in a transaction dated 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 owned 28,668 shares of the company's stock, valued at $1,272,859.20. The trade was a 19.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Institutional Trading of Range Resources

Institutional investors have recently bought and sold shares of the business. Oppenheimer & Co. Inc. boosted its holdings in Range Resources by 753.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 90,179 shares of the oil and gas exploration company's stock valued at $3,394,000 after purchasing an additional 79,613 shares during the period. Vanguard Group Inc. boosted its holdings in Range Resources by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 24,851,886 shares of the oil and gas exploration company's stock valued at $935,425,000 after purchasing an additional 799,574 shares during the period. Citigroup Inc. boosted its holdings in Range Resources by 71.0% in the 3rd quarter. Citigroup Inc. now owns 307,604 shares of the oil and gas exploration company's stock valued at $11,578,000 after purchasing an additional 127,753 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Range Resources by 48.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 135,125 shares of the oil and gas exploration company's stock valued at $5,086,000 after purchasing an additional 44,004 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Range Resources by 7.1% in the 3rd quarter. American Century Companies Inc. now owns 754,293 shares of the oil and gas exploration company's stock valued at $28,392,000 after purchasing an additional 49,979 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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