Range Resources (NYSE:RRC) Downgraded to Sell Rating by StockNews.com

StockNews.com downgraded shares of Range Resources (NYSE:RRC) from a hold rating to a sell rating in a report released on Friday.

A number of other brokerages have also issued reports on RRC. Mizuho increased their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Piper Sandler increased their price target on Range Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday. Stephens increased their price target on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Truist Financial increased their price objective on shares of Range Resources from $31.00 to $35.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.06.

Range Resources Trading Down 0.3 %

NYSE:RRC opened at $35.27 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 5.11 and a beta of 1.80. Range Resources has a one year low of $27.29 and a one year high of $41.95. The business has a fifty day moving average price of $38.17 and a 200-day moving average price of $34.19.

Range Resources (NYSE:RRC) last posted its quarterly earnings data 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 return on equity of 13.69% and a net margin of 17.63%. The firm had revenue of $626.42 million during the quarter, compared to analyst estimates of $676.53 million. During the same period in the prior year, the business posted $0.63 EPS. Sell-side analysts forecast that Range Resources will post 2.02 EPS for the current year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.09 dividend. This is an increase from Range Resources’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Range Resources’s payout ratio is 32.73%.

Hedge Funds Weigh In On Range Resources

A number of large investors have recently bought and sold shares of the business. Forum Financial Management LP raised its stake in Range Resources by 19.1% in the fourth 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 in the last quarter. GF Fund Management CO. LTD. bought a new position in Range Resources in the fourth quarter worth approximately $2,645,000. Public Employees Retirement System of Ohio bought a new position in Range Resources in the fourth quarter worth approximately $3,001,000. Castleark Management LLC raised 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 worth $8,056,000 after buying an additional 171,130 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Range Resources by 4.7% in 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 buying an additional 20,514 shares in the last quarter. 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.