StockNews.com Begins Coverage on Range Resources (NYSE:RRC)

StockNews.com started coverage on shares of Range Resources (NYSE:RRC – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the oil and gas exploration company’s stock.

Several other equities research analysts also recently issued reports on the company. Roth Capital reaffirmed a neutral rating on shares of Range Resources in a report on Wednesday, February 8th. Morgan Stanley dropped their target price on Range Resources from $26.00 to $24.00 and set an underweight rating for the company in a report on Tuesday, January 24th. Royal Bank of Canada reissued an outperform rating and set a $40.00 target price on shares of Range Resources in a report on Wednesday. Piper Sandler dropped their price target on Range Resources from $42.00 to $40.00 and set an overweight rating for the company in a research note on Tuesday, March 7th. Finally, Wells Fargo & Company boosted their price target on Range Resources from $28.00 to $30.00 and gave the company an equal weight rating in a research note on Monday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $34.00.

Range Resources Price Performance

NYSE:RRC opened at $22.88 on Thursday. Range Resources has a 1-year low of $22.61 and a 1-year high of $37.44. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $25.36 and a 200 day simple moving average of $26.90. The stock has a market capitalization of $5.51 billion, a PE ratio of 4.86, a P/E/G ratio of 0.33 and a beta of 2.12.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 14th. This represents a $0.32 annualized dividend and a yield of 1.40%. Range Resources’s dividend payout ratio (DPR) is currently 6.79%.

Institutional Investors Weigh In On Range Resources

Institutional investors have recently bought and sold shares of the stock. Ronald Blue Trust Inc. grew its holdings in Range Resources by 75.6% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,187 shares of the oil and gas exploration company’s stock worth $30,000 after buying an additional 511 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Range Resources in the 4th quarter valued at $40,000. Tobam bought a new position in Range Resources in the 3rd quarter valued at $53,000. FourThought Financial LLC bought a new position in Range Resources in the 3rd quarter valued at $69,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Range Resources in the 3rd quarter valued at $72,000. Institutional investors own 87.32% of the company’s stock.

Range Resources Company Profile

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Range Resources Corp. engages in the exploration, development and acquisition of natural gas and oil properties in the Appalachian and Midcontinent regions. The company was founded in 1976 and is headquartered in Fort Worth, TX.