Analysts Set Range Resources Co. (NYSE:RRC) Target Price at $35.00

Range Resources Co. (NYSE:RRC) has been given an average rating of “Hold” by the twenty ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.94.

Several research firms recently issued reports on RRC. The Goldman Sachs Group cut their target price on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a report on Tuesday, November 12th. Mizuho lowered their price objective on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Range Resources from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. Finally, Morgan Stanley lowered their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th.

Insiders Place Their Bets

In related news, Director Charles G. Griffie bought 1,275 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $31.46 per share, with a total value of $40,111.50. Following the transaction, the director now owns 5,921 shares in the company, valued at approximately $186,274.66. This trade represents a 27.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares of the company’s stock, valued at approximately $304,121.50. This trade represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in shares of Range Resources during the 3rd quarter valued at $25,000. Blue Trust Inc. lifted its stake in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of Range Resources during the 3rd quarter valued at $49,000. Fifth Third Bancorp lifted its stake in shares of 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 valued at $57,000 after buying an additional 299 shares in the last quarter. Finally, Perkins Coie Trust Co purchased a new position in shares of Range Resources during the 2nd quarter valued at $67,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Stock Up 2.5 %

Shares of NYSE:RRC opened at $34.27 on Tuesday. The stock’s 50-day moving average price is $31.10 and its 200-day moving average price is $32.58. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The stock has a market capitalization of $8.27 billion, a P/E ratio of 17.31 and a beta of 1.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. On average, equities analysts anticipate that Range Resources will post 1.89 earnings per share for the current year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is currently 16.16%.

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.