Range Resources Corporation (NYSE:RRC) Receives $41.95 Average PT from Analysts

Shares of Range Resources Corporation (NYSE:RRC) have earned a consensus recommendation of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.95.

Several equities analysts have issued reports on RRC shares. Stephens reissued an “overweight” rating and issued a $49.00 price objective on shares of Range Resources in a research note on Wednesday, April 23rd. Susquehanna lowered their price target on shares of Range Resources from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. UBS Group upped their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Wall Street Zen cut shares of Range Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Roth Mkm raised shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $41.00 to $42.00 in a research note on Tuesday, April 8th.

Insider Activity at Range Resources

In related news, Director Reginal Spiller sold 4,200 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $40.16, for a total value of $168,672.00. Following the sale, the director now directly owns 13,663 shares of the company’s stock, valued at approximately $548,706.08. This represents a 23.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Erin W. Mcdowell sold 9,568 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $40.62, for a total transaction of $388,652.16. Following the completion of the sale, the senior vice president now directly owns 13,800 shares in the company, valued at approximately $560,556. The trade was a 40.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,080 shares of company stock valued at $2,984,479. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Bessemer Group Inc. boosted its position in shares of Range Resources by 48.0% in the first 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. Xponance Inc. boosted its position in shares of Range Resources by 1.2% in the first quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock worth $1,099,000 after acquiring an additional 326 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Range Resources by 0.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,014 shares of the oil and gas exploration company’s stock worth $2,636,000 after acquiring an additional 328 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Range Resources by 4.8% in the first quarter. Evergreen Capital Management LLC now owns 7,716 shares of the oil and gas exploration company’s stock worth $308,000 after acquiring an additional 351 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Range Resources by 20.6% in the first quarter. Fifth Third Bancorp now owns 2,078 shares of the oil and gas exploration company’s stock valued at $83,000 after buying an additional 355 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Performance

Shares of RRC opened at $41.22 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $9.85 billion, a P/E ratio of 36.80, a P/E/G ratio of 0.32 and a beta of 0.63. The company’s fifty day moving average is $38.50 and its two-hundred day moving average is $37.66. Range Resources has a 1 year low of $27.29 and a 1 year high of $43.50.

Range Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. Range Resources’s payout ratio is 32.14%.

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.