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

Range Resources Co. (NYSE:RRC) has received an average rating of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $39.95.

A number of analysts have commented on RRC shares. Truist Financial lifted their target price on Range Resources from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Monday, March 17th. Citigroup lowered Range Resources from a “neutral” rating to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler lifted their target price on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. UBS Group lifted their target price on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on Range Resources from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th.

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently bought and sold shares of RRC. Fuller & Thaler Asset Management Inc. lifted its position in Range Resources by 71.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,057,280 shares of the oil and gas exploration company’s stock valued at $181,961,000 after purchasing an additional 2,104,304 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Range Resources in the fourth quarter valued at about $33,684,000. Amundi lifted its position in shares of Range Resources by 233.2% in the fourth quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company’s stock valued at $44,308,000 after acquiring an additional 826,530 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Range Resources by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,330,676 shares of the oil and gas exploration company’s stock valued at $263,768,000 after acquiring an additional 624,955 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Range Resources by 37.1% in the fourth quarter. Northern Trust Corp now owns 2,238,863 shares of the oil and gas exploration company’s stock valued at $80,554,000 after acquiring an additional 605,315 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Stock Down 1.1 %

RRC stock opened at $39.84 on Monday. Range Resources has a twelve month low of $27.29 and a twelve month high of $41.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.61 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. The business has a 50 day moving average of $38.56 and a 200 day moving average of $34.81.

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

Range Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Range Resources’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 0.90%. Range Resources’s payout ratio is 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.