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

Range Resources Co. (NYSE:RRC) has received a consensus recommendation of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.53.

A number of research firms recently commented on RRC. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, July 24th. Jefferies Financial Group lifted their target price on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, July 8th. Scotiabank raised 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 report on Tuesday, August 20th. The Goldman Sachs Group cut their price target on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, UBS Group decreased their price objective on Range Resources from $30.00 to $27.00 and set a “sell” rating for the company in a report on Wednesday, September 18th.

Range Resources Stock Up 1.9 %

Range Resources stock opened at $30.73 on Monday. The stock’s fifty day moving average is $30.11 and its two-hundred day moving average is $33.42. The stock has a market cap of $7.46 billion, a PE ratio of 15.60 and a beta of 1.80. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $610.24 million. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. On average, sell-side analysts expect that Range Resources will post 1.87 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is presently 16.24%.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the sale, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.57% of the stock is currently owned by company insiders.

Institutional Trading of Range Resources

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its holdings in Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after buying an additional 299 shares in the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Range Resources in the 2nd quarter worth approximately $67,000. International Assets Investment Management LLC purchased a new position in Range Resources in the 2nd quarter valued at approximately $67,000. SYSTM Wealth Solutions LLC raised its holdings in Range Resources by 17.9% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock worth $74,000 after purchasing an additional 325 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Range Resources during the second quarter worth $107,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.