Range Resources Co. (NYSE:RRC) Receives Average Rating of “Hold” from Brokerages

Range Resources Co. (NYSE:RRC) has earned an average rating of “Hold” from the nineteen research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $35.12.

A number of brokerages have weighed in on RRC. Morgan Stanley decreased their price objective on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group cut their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Scotiabank raised shares of 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. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th.

Insider Buying and Selling at Range Resources

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 currently owned by company insiders.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Range Resources by 25.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,633,567 shares of the oil and gas exploration company’s stock valued at $985,855,000 after purchasing an additional 5,759,883 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $843,213,000 after acquiring an additional 959,011 shares during the last quarter. Boston Partners lifted its holdings in shares of Range Resources by 2.1% in 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 acquiring an additional 133,565 shares during the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Range Resources by 1.5% in 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 acquiring an additional 93,782 shares during the last quarter. Finally, KGH Ltd lifted its holdings in shares of 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 worth $203,862,000 after acquiring an additional 190,000 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Trading Up 1.6 %

Shares of Range Resources stock opened at $31.44 on Friday. The firm has a 50-day simple moving average of $30.23 and a two-hundred day simple moving average of $33.06. The company has a market cap of $7.63 billion, a P/E ratio of 15.96 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58.

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

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.02%. Range Resources’s payout ratio is 16.24%.

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.