Brokerages Set Range Resources Co. (NYSE:RRC) Target Price at $36.10

by · The Markets Daily

Shares of Range Resources Co. (NYSE:RRC – Get Free Report) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.53.

A number of research firms recently weighed in on RRC. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target on the stock in a research report on Tuesday, August 20th. Wolfe Research assumed coverage on Range Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company cut their price target on Range Resources from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Morgan Stanley reduced their price objective on Range Resources from $33.00 to $31.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th.

Check Out Our Latest Stock Analysis on Range Resources

Range Resources Price Performance

NYSE:RRC opened at $30.73 on Monday. The firm has a market cap of $7.46 billion, a P/E ratio of 15.60 and a beta of 1.80. The stock has a 50 day moving average of $30.11 and a two-hundred day moving average of $33.42. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The firm had revenue of $641.30 million during the quarter, compared to the consensus estimate of $610.24 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Range Resources will post 1.87 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insiders Place Their Bets

In related news, VP Ashley Kavanaugh sold 12,700 shares of Range Resources stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now owns 9,670 shares in the company, valued at $304,121.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Hedge Funds Weigh In On Range Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in shares of Range Resources by 21.2% in the second quarter. Fifth Third Bancorp now owns 1,709 shares of the oil and gas exploration company’s stock valued at $57,000 after acquiring an additional 299 shares in the last quarter. SYSTM Wealth Solutions LLC raised its position in Range Resources by 17.9% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,141 shares of the oil and gas exploration company’s stock valued at $74,000 after purchasing an additional 325 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Range Resources by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 6,801 shares of the oil and gas exploration company’s stock valued at $228,000 after buying an additional 350 shares during the period. Orser Capital Management LLC grew its position in shares of Range Resources by 0.8% during the first quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock worth $1,867,000 after buying an additional 427 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its stake in shares of Range Resources by 6.0% during the second quarter. Pekin Hardy Strauss Inc. now owns 10,650 shares of the oil and gas exploration company’s stock worth $357,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

(Get Free Report

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.

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