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

Range Resources Co. (NYSE:RRC) has received an average rating of “Hold” from the nineteen ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $38.78.

A number of research analysts have commented on RRC shares. Wells Fargo & Company upped their target price on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $45.00 in a report on Monday, January 13th. Wolfe Research upgraded shares of Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, January 3rd. Truist Financial upped their price target on Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a report on Friday, January 17th.

Range Resources Price Performance

NYSE:RRC opened at $37.94 on Thursday. The company has a market capitalization of $9.16 billion, a P/E ratio of 19.16, a P/E/G ratio of 5.11 and a beta of 1.78. 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 has a 52 week low of $27.29 and a 52 week high of $41.95. The stock’s fifty day moving average is $37.65 and its two-hundred day moving average is $33.77.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. Range Resources’s payout ratio is 16.16%.

Hedge Funds Weigh In On Range Resources

Several large investors have recently bought and sold shares of the business. Forum Financial Management LP lifted its holdings in Range Resources by 19.1% during the 4th quarter. Forum Financial Management LP now owns 8,046 shares of the oil and gas exploration company’s stock worth $289,000 after buying an additional 1,293 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Range Resources during the fourth quarter worth approximately $2,645,000. Public Employees Retirement System of Ohio acquired a new position in Range Resources in the fourth quarter valued at approximately $3,001,000. Castleark Management LLC increased its stake in Range Resources by 324.2% in the fourth quarter. Castleark Management LLC now owns 223,910 shares of the oil and gas exploration company’s stock valued at $8,056,000 after purchasing an additional 171,130 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Range Resources by 4.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 457,980 shares of the oil and gas exploration company’s stock worth $16,478,000 after purchasing an additional 20,514 shares in the last quarter. Hedge funds and other institutional investors 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.