Range Resources Co. (NYSE:RRC – Get Rating) has earned a consensus rating of "Hold" from the twenty research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $34.35.
RRC has been the topic of a number of analyst reports. Mizuho lowered their price objective on Range Resources from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, July 19th. MKM Partners reissued a "neutral" rating and issued a $25.00 target price on shares of Range Resources in a report on Wednesday, July 20th. Piper Sandler lowered their price target on shares of Range Resources from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, July 22nd. TheStreet upgraded shares of Range Resources from a "c" rating to a "b-" rating in a research note on Tuesday, July 26th. Finally, Truist Financial upped their target price on shares of Range Resources to $34.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th.
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Range Resources Stock Performance
NYSE RRC opened at $24.84 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.93. Range Resources has a 52-week low of $16.71 and a 52-week high of $37.44. The business's 50-day moving average price is $31.46 and its 200 day moving average price is $30.28. The firm has a market cap of $6.53 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.16 and a beta of 2.11.
Range Resources (NYSE:RRC – Get Rating) last released its quarterly earnings results on Monday, July 25th. The oil and gas exploration company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.08. Range Resources had a return on equity of 56.92% and a net
margin of 16.40%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $959.91 million. During the same quarter last year, the company posted $0.24 earnings per share. The business's revenue was up 181.8% on a year-over-year basis. On average, equities research analysts expect that Range Resources will post 5.27 earnings per share for the current year.
Range Resources Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Range Resources's previous quarterly dividend of $0.02. The ex-dividend date is Wednesday, September 14th. Range Resources's dividend payout ratio (DPR) is 16.49%.
Insider Transactions at Range Resources
In other news, Director Reginal Spiller sold 1,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $31.44, for a total transaction of $50,304.00. Following the completion of the transaction, the director now directly owns 10,685 shares of the company's stock, valued at approximately $335,936.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Range Resources news, Director Reginal Spiller sold 1,600 shares of Range Resources stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $31.44, for a total value of $50,304.00. Following the completion of the sale, the director now directly owns 10,685 shares of the company's stock, valued at approximately $335,936.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dori Ginn sold 5,000 shares of Range Resources stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $34.65, for a total transaction of $173,250.00. Following the completion of the sale, the senior vice president now directly owns 80,801 shares of the company's stock, valued at $2,799,754.65. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company's stock.
Institutional Trading of Range Resources
Hedge funds and other institutional investors have recently bought and sold shares of the company. PDT Partners LLC purchased a new stake in Range Resources in the 4th quarter worth approximately $734,000. Arlington Capital Management Inc. boosted its holdings in shares of Range Resources by 6.2% in the 1st quarter. Arlington Capital Management Inc. now owns 17,091 shares of the oil and gas exploration company's stock valued at $519,000 after purchasing an additional 1,001 shares during the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in shares of Range Resources in the 1st quarter valued at $562,000. Credit Suisse AG boosted its holdings in shares of Range Resources by 5.7% in the 4th quarter. Credit Suisse AG now owns 634,008 shares of the oil and gas exploration company's stock valued at $11,305,000 after purchasing an additional 34,001 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new position in shares of Range Resources in the 1st quarter valued at $255,000. 84.31% of the stock is owned by hedge funds and other institutional investors.
Range Resources Company Profile
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Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. As of December 31, 2021, the company owned and operated 1,350 net producing wells and approximately 794,000 net acres under lease located in the Appalachian region of the northeastern United States.
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