Range Resources Co. (NYSE:RRC) Receives Consensus Rating of “Hold” from Analysts

Range Resources Co. (NYSE:RRC) has received an average recommendation of “Hold” from the nineteen brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $36.40.

RRC has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Range Resources from $23.00 to $33.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. StockNews.com upgraded Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Range Resources in a research report on Tuesday, April 9th. Stifel Nicolaus raised their price target on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays assumed coverage on Range Resources in a research note on Wednesday, April 10th. They issued an “underweight” rating and a $35.00 price objective on the stock.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total value of $603,169.50. Following the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Range Resources during the 3rd quarter valued at $27,000. Schroder Investment Management Group raised its stake in shares of Range Resources by 23.7% during the 3rd quarter. Schroder Investment Management Group now owns 456,752 shares of the oil and gas exploration company’s stock valued at $14,803,000 after purchasing an additional 87,624 shares during the period. Kennedy Capital Management LLC raised its stake in shares of Range Resources by 17.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 224,573 shares of the oil and gas exploration company’s stock valued at $7,278,000 after purchasing an additional 33,793 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Range Resources during the 3rd quarter valued at $19,704,000. Finally, Cambria Investment Management L.P. raised its stake in shares of Range Resources by 8.5% during the 3rd quarter. Cambria Investment Management L.P. now owns 264,965 shares of the oil and gas exploration company’s stock valued at $8,588,000 after purchasing an additional 20,685 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Stock Down 0.2 %

RRC stock opened at $37.69 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83. The business’s fifty day moving average price is $33.67 and its two-hundred day moving average price is $32.40. Range Resources has a fifty-two week low of $23.92 and a fifty-two week high of $38.25.

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

Range Resources Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.85%. Range Resources’s dividend payout ratio is currently 16.24%.

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.