Range Resources Co. (NYSE:RRC) Receives $36.10 Consensus Price Target from Brokerages

Range Resources Co. (NYSE:RRC) has been assigned a consensus rating of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.53.

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Susquehanna lowered their target price on Range Resources from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Morgan Stanley cut their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Piper Sandler downgraded Range Resources from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $43.00 to $31.00 in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. reduced their price target on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th.

Range Resources Stock Performance

RRC stock opened at $30.74 on Monday. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The firm has a market cap of $7.46 billion, a PE ratio of 15.60 and a beta of 1.80. The business’s 50-day moving average price is $30.11 and its two-hundred day moving average price is $33.43.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $610.24 million. During the same quarter in the previous year, the business posted $0.27 EPS. Range Resources’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Range Resources will post 1.87 earnings per share for the current year.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s payout ratio is currently 16.24%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value 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 $304,121.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in shares of Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares in the last quarter. SYSTM Wealth Solutions LLC grew its position in shares of Range Resources by 17.9% during the 1st 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 in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Range Resources by 5.4% during the second 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 during the period. Orser Capital Management LLC raised its position in shares of Range Resources by 0.8% in the first 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 buying an additional 427 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its stake in shares of Range Resources by 6.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock valued at $357,000 after buying an additional 600 shares during the period. Institutional investors own 98.93% of the company’s stock.

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.