Range Resources’ (RRC) “Hold” Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of Range Resources (NYSE:RRC) in a research report released on Wednesday, Benzinga reports.

RRC has been the subject of a number of other research reports. Stephens raised their price objective on shares of Range Resources from $41.00 to $42.00 and gave the stock an overweight rating in a report on Wednesday. Piper Sandler lifted their target price on shares of Range Resources from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Truist Financial reduced their target price on shares of Range Resources from $32.00 to $30.00 and set a hold rating for the company in a research note on Friday, April 5th. Morgan Stanley lifted their target price on shares of Range Resources from $23.00 to $33.00 and gave the stock an underweight rating in a research note on Wednesday, April 17th. Finally, Barclays began coverage on shares of Range Resources in a research note on Wednesday, April 10th. They issued an underweight rating and a $35.00 target price for the company. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $36.65.

Range Resources Stock Performance

NYSE RRC opened at $37.32 on Wednesday. Range Resources has a 52-week low of $23.92 and a 52-week high of $38.25. The company has a 50-day simple moving average of $33.80 and a 200 day simple moving average of $32.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 1.35. The company has a market capitalization of $9.05 billion, a PE ratio of 18.94 and a beta of 1.83.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business had revenue of $718.20 million during the quarter, compared to the consensus estimate of $680.72 million. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, research analysts predict that Range Resources will post 2 EPS for the current year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s payout ratio is presently 16.24%.

Insider Buying and Selling at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the completion of the sale, the vice president now directly owns 22,370 shares in the company, valued at $844,467.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the business. Raleigh Capital Management Inc. bought a new stake in shares of Range Resources in the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Range Resources in the 3rd quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Range Resources by 333.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 866 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 666 shares during the last quarter. Proffitt & Goodson Inc. bought a new stake in shares of Range Resources in the 3rd quarter worth approximately $32,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Range Resources by 267.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,236 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 900 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors.

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.