Range Resources Corporation (NYSE:RRC) Receives $43.35 Consensus PT from Analysts

Shares of Range Resources Corporation (NYSE:RRCGet Free Report) have received an average rating of “Hold” from the twenty ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $43.3529.

A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price objective on Range Resources from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Zacks Research cut shares of Range Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Morgan Stanley lowered their target price on shares of Range Resources from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, June 29th. Bank of America upped their price target on shares of Range Resources from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of Range Resources from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th.

Get Our Latest Stock Report on RRC

Institutional Investors Weigh In On Range Resources

Several hedge funds have recently bought and sold shares of RRC. King Luther Capital Management Corp grew its holdings in Range Resources by 49.8% in the 4th quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company’s stock valued at $45,202,000 after buying an additional 426,300 shares in the last quarter. Vanguard Group Inc. increased its position in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company’s stock worth $901,021,000 after buying an additional 701,751 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Range Resources by 101.2% during the fourth quarter. SG Americas Securities LLC now owns 66,689 shares of the oil and gas exploration company’s stock worth $2,351,000 after buying an additional 33,544 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Range Resources during the fourth quarter worth $21,129,000. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Range Resources in the fourth quarter valued at about $2,890,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Price Performance

NYSE:RRC opened at $40.22 on Thursday. Range Resources has a 52-week low of $32.60 and a 52-week high of $48.31. The company has a market cap of $9.40 billion, a P/E ratio of 11.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $37.96 and its 200 day simple moving average is $39.60.

Range Resources (NYSE:RRCGet Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. The firm had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, sell-side analysts forecast that Range Resources will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 12th. Range Resources’s dividend payout ratio (DPR) is 11.05%.

About Range Resources

(Get Free Report)

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.

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Analyst Recommendations for Range Resources (NYSE:RRC)

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