Range Resources Co. (NYSE:RRC) Receives Average Recommendation of “Hold” from Brokerages

Range Resources Co. (NYSE:RRC) has earned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.11.

A number of research analysts recently issued reports on RRC shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a report on Thursday, July 25th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research note on Tuesday, August 20th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Wednesday, July 24th. Jefferies Financial Group raised their target price on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Finally, Mizuho upped their price target on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 13th.

Hedge Funds Weigh In On Range Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in Range Resources by 21.2% during the 2nd quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock worth $57,000 after buying an additional 299 shares during the period. SYSTM Wealth Solutions LLC raised its position in shares of Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock worth $228,000 after purchasing an additional 350 shares in the last quarter. Orser Capital Management LLC grew its position in Range Resources by 0.8% in the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after purchasing an additional 427 shares during the period. Finally, Lmcg Investments LLC increased its stake in Range Resources by 0.4% during the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Performance

NYSE RRC opened at $29.88 on Thursday. The firm’s fifty day moving average price is $31.76 and its two-hundred day moving average price is $33.76. The stock has a market cap of $7.23 billion, a PE ratio of 15.17 and a beta of 1.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. Range Resources’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. On average, equities analysts expect that Range Resources will post 2.08 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.24%.

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.