Analysts Set Range Resources Corporation (NYSE:RRC) Target Price at $42.06

Shares of Range Resources Corporation (NYSE:RRC) have received a consensus rating of “Hold” from the twenty-one research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $41.9474.

A number of equities analysts recently issued reports on RRC shares. Morgan Stanley reduced their target price on shares of Range Resources from $44.00 to $42.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Royal Bank Of Canada raised their price objective on Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 8th. Piper Sandler decreased their price objective on Range Resources from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Citigroup cut their target price on Range Resources from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Raymond James Financial reduced their target price on Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, September 19th.

Hedge Funds Weigh In On Range Resources

Institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new stake in Range Resources during the 1st quarter valued at $392,000. Empowered Funds LLC boosted its stake in Range Resources by 2.1% in the first quarter. Empowered Funds LLC now owns 75,851 shares of the oil and gas exploration company’s stock worth $3,029,000 after purchasing an additional 1,563 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Range Resources by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 466,796 shares of the oil and gas exploration company’s stock worth $18,639,000 after purchasing an additional 8,816 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Range Resources during the first quarter worth $126,000. Finally, Focus Partners Wealth acquired a new stake in shares of Range Resources in the first quarter valued at $285,000. 98.93% of the stock is owned by institutional investors.

Range Resources Stock Performance

Shares of RRC stock opened at $33.70 on Friday. The firm has a market cap of $7.98 billion, a P/E ratio of 14.16, a PEG ratio of 0.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.56 and a quick ratio of 0.56. Range Resources has a fifty-two week low of $30.32 and a fifty-two week high of $43.50. The stock’s 50-day moving average is $36.73 and its two-hundred day moving average is $36.37.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $655.30 million during the quarter, compared to analyst estimates of $721.22 million. Range Resources had a return on equity of 15.99% and a net margin of 19.64%.The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Analysts predict that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, December 12th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, December 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.1%. Range Resources’s dividend payout ratio (DPR) is currently 15.13%.

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.