Range Resources Corporation (NYSE:RRC) Receives $43.35 Consensus Target Price from Analysts

Shares of Range Resources Corporation (NYSE:RRC) have received an average recommendation of “Hold” from the twenty analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.3529.

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of Range Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wells Fargo & Company dropped their target price on Range Resources from $46.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, July 23rd. Truist Financial decreased their price target on Range Resources from $46.00 to $43.00 and set a “hold” rating for the company in a report on Friday, July 10th. Bank of America upped their price objective on Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, Citigroup reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd.

Institutional Trading of Range Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RRC. Empowered Funds LLC grew its stake in Range Resources by 2.1% during the 1st quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after buying an additional 1,563 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Range Resources by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock valued at $18,639,000 after purchasing an additional 8,816 shares during the period. Focus Partners Wealth acquired a new position in shares of Range Resources in the first quarter valued at approximately $285,000. EverSource Wealth Advisors LLC raised its stake in shares of Range Resources by 63.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,932 shares of the oil and gas exploration company’s stock worth $119,000 after purchasing an additional 1,139 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Range Resources by 8.0% during the second quarter. California Public Employees Retirement System now owns 410,651 shares of the oil and gas exploration company’s stock worth $16,701,000 after purchasing an additional 30,481 shares during the period. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Stock Down 3.9%

Shares of NYSE RRC opened at $38.15 on Thursday. The stock has a market cap of $8.91 billion, a P/E ratio of 10.54 and a beta of 0.42. The business’s fifty day simple moving average is $37.91 and its 200-day simple moving average is $39.76. Range Resources has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $759.58 million for the quarter, compared to the consensus estimate of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.Range Resources’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, equities analysts predict that Range Resources will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources’s dividend payout ratio is 11.05%.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.