Brokerages Set Range Resources Co. (NYSE:RRC) PT at $36.00

Shares of Range Resources Co. (NYSE:RRC) have earned a consensus rating of “Hold” from the twenty research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.32.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research note on Thursday, September 12th. Barclays raised Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Piper Sandler lowered their price objective on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. UBS Group upgraded Range Resources from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $35.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company increased their price target on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th.

Insider Activity

In other Range Resources news, Director Charles G. Griffie acquired 1,275 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at $186,274.66. This represents a 27.44 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Trading of Range Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Range Resources in the 3rd quarter worth $25,000. Blue Trust Inc. lifted its position in shares of Range Resources by 107.8% during the third quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 705 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Range Resources in the 3rd quarter valued at about $49,000. Versant Capital Management Inc grew its position in shares of Range Resources by 42.8% in the 4th quarter. Versant Capital Management Inc now owns 1,544 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 463 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Range Resources during the 2nd quarter worth approximately $67,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Trading Down 0.2 %

Shares of RRC stock opened at $36.74 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 18.56 and a beta of 1.81. Range Resources has a 12-month low of $27.29 and a 12-month high of $39.33. The stock’s 50-day moving average price is $34.37 and its 200-day moving average price is $32.27.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The business had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the prior year, the firm earned $0.43 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts predict that Range Resources will post 1.91 EPS for the current fiscal year.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, December 13th. Range Resources’s payout ratio is 16.16%.

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.