Range Resources Co. (NYSE:RRC) Receives $39.84 Consensus PT from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $39.95.

Several equities research analysts have recently commented on the company. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, January 3rd. Mizuho increased their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Truist Financial increased their price objective on Range Resources from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, March 17th. Finally, UBS Group increased their price objective on Range Resources from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RRC. Brooklyn Investment Group bought a new position in shares of Range Resources in the third quarter worth $25,000. Smartleaf Asset Management LLC grew its position in Range Resources by 87.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 471 shares during the last quarter. UMB Bank n.a. grew its position in Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. Headlands Technologies LLC bought a new position in Range Resources in the fourth quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. bought a new position in Range Resources in the fourth quarter valued at about $46,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $39.84 on Monday. The stock has a market capitalization of $9.61 billion, a P/E ratio of 20.12, a P/E/G ratio of 5.11 and a beta of 1.80. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a 50 day moving average of $38.56 and a 200-day moving average of $34.73. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same period last year, the business earned $0.63 EPS. As a group, equities research analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. Range Resources’s dividend payout ratio (DPR) is presently 32.73%.

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.