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

Range Resources Co. (NYSE:RRC) has received a consensus recommendation of “Hold” from the twenty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.50.

Several research analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Roth Capital upgraded Range Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. UBS Group boosted their target price on shares of Range Resources from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Citigroup lowered shares of Range Resources from a “neutral” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $45.00 in a research note on Monday, January 13th.

Institutional Investors Weigh In On Range Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner Investment Group LLC grew its position in Range Resources by 88.9% during the first quarter. Mariner Investment Group LLC now owns 85,000 shares of the oil and gas exploration company’s stock valued at $3,394,000 after buying an additional 40,000 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Range Resources by 5.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,664 shares of the oil and gas exploration company’s stock valued at $266,000 after acquiring an additional 360 shares during the period. Financial Harvest LLC purchased a new stake in shares of Range Resources in the 1st quarter worth $415,000. Diversify Advisory Services LLC bought a new position in Range Resources in the 1st quarter worth $291,000. Finally, Hollencrest Capital Management purchased a new position in Range Resources during the first quarter valued at $33,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of Range Resources stock opened at $35.07 on Tuesday. The business has a 50 day moving average of $36.25 and a 200 day moving average of $35.98. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The company has a market cap of $8.38 billion, a PE ratio of 17.71, a P/E/G ratio of 5.11 and a beta of 0.60. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, February 25th. The oil and gas exploration company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.55 by $0.13. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the company posted $0.63 EPS. As a group, equities research analysts forecast that Range Resources will post 2.02 earnings per share for the current year.

Range Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.03%. This is a boost from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 32.14%.

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.