Range Resources (NYSE:RRC) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings downgraded shares of Range Resources (NYSE:RRC) from a buy (b-) rating to a hold (c+) rating in a report issued on Saturday morning,Weiss Ratings reports.

Several other brokerages also recently issued reports on RRC. Piper Sandler reduced their price target on shares of Range Resources from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Royal Bank Of Canada boosted their target price on shares of Range Resources from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Wells Fargo & Company raised shares of Range Resources to a “strong-buy” rating in a research note on Thursday, October 16th. Raymond James Financial lowered their price target on shares of Range Resources from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, September 19th. Finally, Barclays boosted their price objective on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.05.

Range Resources Price Performance

Range Resources stock opened at $37.35 on Friday. The business’s fifty day moving average is $35.92 and its two-hundred day moving average is $36.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $8.90 billion, a P/E ratio of 18.77, a P/E/G ratio of 0.42 and a beta of 0.51. Range Resources has a 52 week low of $29.48 and a 52 week high of $43.50.

Range Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 12th. Range Resources’s payout ratio is currently 18.09%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Range Resources by 4.7% during the second quarter. GAMMA Investing LLC now owns 6,013 shares of the oil and gas exploration company’s stock worth $245,000 after purchasing an additional 270 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Range Resources by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 73,294 shares of the oil and gas exploration company’s stock worth $2,981,000 after buying an additional 299 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Range Resources by 48.0% during the first quarter. Bessemer Group Inc. now owns 971 shares of the oil and gas exploration company’s stock worth $39,000 after buying an additional 315 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Range Resources by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 10,596 shares of the oil and gas exploration company’s stock worth $431,000 after buying an additional 315 shares during the period. Finally, Xponance Inc. increased its stake in shares of Range Resources by 1.2% in the 1st quarter. Xponance Inc. now owns 27,512 shares of the oil and gas exploration company’s stock valued at $1,099,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds 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.