Range Resources Co. (NYSE:RRC) Given Consensus Recommendation of “Hold” by Brokerages

Range Resources Co. (NYSE:RRC) has received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $36.40.

RRC has been the topic of a number of research analyst reports. Susquehanna boosted their target price on Range Resources from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday. Stephens upped their price objective on Range Resources from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com raised Range Resources to a “sell” rating in a research report on Wednesday, March 13th. Raymond James cut their price objective on Range Resources from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Range Resources in a research report on Tuesday, April 9th.

Range Resources Stock Down 0.2 %

Shares of NYSE RRC opened at $37.69 on Friday. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. Range Resources has a 52-week low of $23.92 and a 52-week high of $38.25. The business’s 50 day moving average is $33.67 and its two-hundred day moving average is $32.40.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. Range Resources had a return on equity of 13.58% and a net margin of 17.00%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 earnings per share. Research analysts predict that Range Resources will post 1.99 EPS for the current year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s payout ratio is 16.24%.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 15,978 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares of the company’s stock, valued at $844,467.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Hedge funds have recently made changes to their positions in the company. Orser Capital Management LLC lifted its position in Range Resources by 0.8% in the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after purchasing an additional 427 shares during the period. Alliance Wealth Advisors LLC UT lifted its position in Range Resources by 4.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after purchasing an additional 431 shares during the period. Fifth Third Bancorp lifted its position in Range Resources by 57.7% in the third quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 490 shares during the period. Lmcg Investments LLC lifted its position in Range Resources by 0.4% in the fourth quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares during the period. Finally, Xponance Inc. lifted its position in Range Resources by 2.0% in the fourth quarter. Xponance Inc. now owns 29,187 shares of the oil and gas exploration company’s stock valued at $888,000 after purchasing an additional 579 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

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.