Range Resources Corporation (NYSE:RRC) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Range Resources Corporation (NYSE:RRC) have been given an average rating of “Hold” by the nineteen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.29.

Several research firms have recently weighed in on RRC. Citigroup reiterated a “neutral” rating on shares of Range Resources in a report on Thursday, July 23rd. UBS Group increased their price objective on shares of Range Resources from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Stephens boosted their price objective on shares of Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group dropped their price target on Range Resources from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut Range Resources from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd.

Insiders Place Their Bets

In other news, Director Reginal Spiller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director directly owned 13,421 shares of the company’s stock, valued at $536,840. This trade represents a 20.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RRC. BlackRock Inc. acquired a new position in Range Resources during the second quarter valued at approximately $868,085,000. Bank of New York Mellon Corp acquired a new position in shares of Range Resources during the 2nd quarter worth approximately $67,470,000. Boston Partners increased its position in shares of Range Resources by 14.0% during the 4th quarter. Boston Partners now owns 13,467,808 shares of the oil and gas exploration company’s stock worth $474,585,000 after purchasing an additional 1,650,258 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Range Resources during the 2nd quarter worth approximately $58,524,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Range Resources during the 2nd quarter worth approximately $53,264,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Up 0.9%

Shares of NYSE RRC opened at $39.12 on Friday. The company’s fifty day moving average is $40.03 and its 200-day moving average is $40.50. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 10.81 and a beta of 0.43. Range Resources has a twelve month low of $32.68 and a twelve month high of $48.31. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The business had revenue of $759.58 million during the quarter, compared to analysts’ expectations of $744.78 million. Range Resources had a net margin of 25.04% and a return on equity of 18.63%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Equities research analysts predict that Range Resources will post 3.65 EPS for the current year.

Range Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.40 annualized dividend and a yield of 1.0%. Range Resources’s payout ratio is presently 11.05%.

Range Resources Company Profile

Range Resources Corporation (NYSE:RRC) is an independent natural gas, natural gas liquids (NGLs) and oil exploration and production company. Its activities include acquiring, developing and operating unconventional properties, with a primary focus on the Marcellus Shale in the Appalachian Basin.

The company’s production portfolio is centered on natural gas, along with NGLs such as ethane, propane, butane and natural gasoline, as well as condensate and oil. Range Resources also manages related gathering, processing, transportation and marketing activities to move its products from production areas to end markets.

Founded in 1976, Range Resources has built its operations through exploration, development and acquisitions in U.S.