Range Resources (NYSE:RRC) Hits New 52-Week Low - What's Next?

Range Resources Co. (NYSE:RRC - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.42 and last traded at $33.91, with a volume of 2959265 shares changing hands. The stock had previously closed at $35.10.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RRC. StockNews.com raised Range Resources from a "sell" rating to a "hold" rating in a report on Wednesday, April 23rd. Piper Sandler cut their price target on Range Resources from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley set a $41.00 price objective on Range Resources in a research report on Tuesday, April 15th. UBS Group upped their target price on shares of Range Resources from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Roth Mkm upgraded shares of Range Resources from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $41.00 to $42.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Range Resources has a consensus rating of "Hold" and a consensus target price of $41.50.

Range Resources Stock Performance

The stock has a market capitalization of $8.35 billion, a P/E ratio of 17.66, a P/E/G ratio of 5.11 and a beta of 0.60. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $36.32 and a two-hundred day simple moving average of $35.90.

Range Resources (NYSE:RRC - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The business had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities analysts forecast that Range Resources Co. will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.09 dividend. This is an increase from Range Resources's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, March 14th. Range Resources's dividend payout ratio (DPR) is 32.14%.

Institutional Trading of Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of RRC. Bessemer Group Inc. increased its holdings in shares of Range Resources by 48.0% during the 1st quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company's stock worth $39,000 after acquiring an additional 315 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Range Resources in the first quarter valued at $39,000. Smartleaf Asset Management LLC increased its holdings in shares of Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 471 shares during the last quarter. UMB Bank n.a. raised its position in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company's stock valued at $41,000 after purchasing an additional 426 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Range Resources during the 4th quarter worth about $42,000. Institutional investors own 98.93% of the company's stock.

About Range Resources

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.