Range Resources Corporation (NYSE:RRC) Receives $41.29 Consensus Price Target from Analysts

Range Resources Corporation (NYSE:RRC) has earned a consensus rating of “Hold” from the nineteen brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $42.0625.

RRC has been the topic of several recent research reports. Mizuho boosted their price objective on shares of Range Resources from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings upgraded shares of Range Resources from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, February 27th. Piper Sandler boosted their price target on shares of Range Resources from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup increased their price target on shares of Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd.

Range Resources Stock Up 0.4%

Range Resources stock opened at $41.66 on Monday. Range Resources has a twelve month low of $30.32 and a twelve month high of $43.50. The stock has a 50 day moving average of $36.77 and a two-hundred day moving average of $36.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.38 and a beta of 0.57.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business had revenue of $786.89 million for the quarter, compared to analyst estimates of $770.92 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. As a group, research analysts expect that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.10 per share. This is a positive change from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Range Resources’s dividend payout ratio (DPR) is currently 13.14%.

Institutional Trading of Range Resources

A number of institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its holdings in Range Resources by 1,464.6% in the second quarter. Hantz Financial Services Inc. now owns 751 shares of the oil and gas exploration company’s stock valued at $31,000 after acquiring an additional 703 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Range Resources during the 4th quarter worth $34,000. True Wealth Design LLC grew its stake in shares of Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 541 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Range Resources by 49.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 336 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Range Resources by 196.5% in the second quarter. Allworth Financial LP now owns 1,103 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 731 shares during the period. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Company Profile

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.