Range Resources (NYSE:RRC) Rating Reiterated by Benchmark

Benchmark reissued their hold rating on shares of Range Resources (NYSE:RRC) in a report published on Wednesday, Benzinga reports.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company upgraded Range Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $39.00 in a research note on Tuesday, October 1st. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price for the company in a research note on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 price target on shares of Range Resources in a research note on Thursday, July 25th. Stephens boosted their price target on shares of Range Resources from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Piper Sandler downgraded shares of Range Resources from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.12.

Range Resources Trading Up 3.4 %

Range Resources stock opened at $30.93 on Wednesday. The firm has a market cap of $7.50 billion, a PE ratio of 15.70 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The stock’s 50 day simple moving average is $30.19 and its two-hundred day simple moving average is $33.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.62% and a return on equity of 13.93%. The firm had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Analysts anticipate that Range Resources will post 1.88 earnings per share for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Buying and Selling

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.57% of the stock is owned by company insiders.

Institutional Trading of Range Resources

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Range Resources by 25.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock worth $985,855,000 after acquiring an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Range Resources by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 24,490,639 shares of the oil and gas exploration company’s stock valued at $843,213,000 after purchasing an additional 959,011 shares during the last quarter. Boston Partners grew its holdings in shares of Range Resources by 2.1% during the 1st quarter. Boston Partners now owns 6,531,086 shares of the oil and gas exploration company’s stock worth $224,912,000 after purchasing an additional 133,565 shares during the period. Lingotto Investment Management LLP increased its position in shares of Range Resources by 1.5% during the 2nd quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after purchasing an additional 93,782 shares during the last quarter. Finally, KGH Ltd raised its holdings in Range Resources by 3.2% in the 2nd quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after buying an additional 190,000 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.