Range Resources (NYSE:RRC) Given “Hold” Rating at Benchmark

Benchmark reaffirmed their hold rating on shares of Range Resources (NYSE:RRC) in a report published on Wednesday, Benzinga reports.

RRC has been the topic of several other reports. Piper Sandler increased their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Truist Financial cut their price target on shares of Range Resources from $32.00 to $30.00 and set a hold rating on the stock in a report on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Range Resources from $36.00 to $39.00 and gave the company a buy rating in a research note on Tuesday. Susquehanna lifted their price target on shares of Range Resources from $34.00 to $36.00 and gave the company a neutral rating in a research report on Monday. Finally, Stephens lifted their price target on shares of Range Resources from $41.00 to $42.00 and gave the company an overweight rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Range Resources presently has a consensus rating of Hold and an average price target of $36.40.

Range Resources Stock Up 3.3 %

Range Resources stock opened at $37.77 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $9.14 billion, a PE ratio of 19.17 and a beta of 1.83. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $37.89. The firm’s 50-day simple moving average is $33.52 and its 200 day simple moving average is $32.37.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The firm had revenue of $718.20 million for the quarter, compared to analysts’ expectations of $680.72 million. Range Resources had a net margin of 17.00% and a return on equity of 13.58%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. Research analysts predict that Range Resources will post 1.99 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. Range Resources’s payout ratio is currently 16.24%.

Hedge Funds Weigh In On Range Resources

A number of hedge funds have recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC purchased a new stake in Range Resources during the third quarter valued at $27,000. Schroder Investment Management Group grew its holdings in shares of Range Resources by 23.7% in the third quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock worth $14,803,000 after purchasing an additional 87,624 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Range Resources by 17.7% in the third quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock worth $7,278,000 after purchasing an additional 33,793 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Range Resources in the third quarter worth about $19,704,000. Finally, Cambria Investment Management L.P. grew its holdings in shares of Range Resources by 8.5% in the third quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock worth $8,588,000 after purchasing an additional 20,685 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.