Benchmark Reiterates “Hold” Rating for Range Resources (NYSE:RRC)

Benchmark restated their hold rating on shares of Range Resources (NYSE:RRC) in a research note issued to investors on Wednesday, Benzinga reports.

RRC has been the topic of several other research reports. Citigroup upped their price objective on shares of Range Resources from $33.00 to $37.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Barclays began coverage on shares of Range Resources in a report on Wednesday, April 10th. They set an underweight rating and a $35.00 price objective on the stock. Susquehanna upped their target price on Range Resources from $34.00 to $36.00 and gave the company a neutral rating in a research report on Monday, April 22nd. Mizuho reiterated a buy rating and issued a $39.00 target price on shares of Range Resources in a research report on Thursday, April 11th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $36.00 target price on shares of Range Resources in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $36.65.

Range Resources Stock Performance

RRC opened at $37.32 on Wednesday. Range Resources has a 52-week low of $23.92 and a 52-week high of $38.25. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.05 billion, a P/E ratio of 18.94 and a beta of 1.83. The firm’s 50-day moving average price is $33.80 and its 200-day moving average price is $32.42.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas exploration company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.21. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The firm had revenue of $718.20 million for the quarter, compared to the consensus estimate of $680.72 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that Range Resources will post 2 EPS for the current fiscal year.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.86%. Range Resources’s dividend payout ratio is presently 16.24%.

Insiders Place Their Bets

In other news, VP Ashley Kavanaugh sold 15,978 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $37.75, for a total transaction of $603,169.50. Following the transaction, the vice president now owns 22,370 shares in the company, valued at approximately $844,467.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SYSTM Wealth Solutions LLC lifted its position in shares of Range Resources by 17.9% during 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 buying an additional 325 shares in the last quarter. Orser Capital Management LLC lifted its position in shares of Range Resources by 0.8% during the 1st quarter. Orser Capital Management LLC now owns 54,223 shares of the oil and gas exploration company’s stock valued at $1,867,000 after buying an additional 427 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of Range Resources by 4.3% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 10,403 shares of the oil and gas exploration company’s stock valued at $317,000 after buying an additional 431 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Range Resources by 57.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,339 shares of the oil and gas exploration company’s stock valued at $43,000 after buying an additional 490 shares in the last quarter. Finally, Lmcg Investments LLC raised its stake in Range Resources by 0.4% in the 4th quarter. Lmcg Investments LLC now owns 154,245 shares of the oil and gas exploration company’s stock valued at $4,695,000 after purchasing an additional 546 shares during 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.