Range Resources Corporation (NYSE:RRC) Stock Has Consensus Price Target of $46.22 According to Analysts

Shares of Range Resources Corporation (NYSE:RRC) have been given a consensus recommendation of “Hold” by the twenty-four research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $46.22.

RRC has been the subject of several research analyst reports. Susquehanna lifted their price target on shares of Range Resources from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. BMO Capital Markets reiterated a “market perform” rating on shares of Range Resources in a report on Monday, October 5th. Truist Financial increased their target price on Range Resources from $43.00 to $51.00 and gave the stock a “hold” rating in a report on Monday, November 2nd. Citigroup restated a “neutral” rating on shares of Range Resources in a research note on Thursday, July 23rd. Finally, UBS Group reduced their price objective on shares of Range Resources from $49.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, October 2nd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia purchased a new stake in shares of Range Resources during the 2nd quarter valued at $2,220,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Range Resources by 23.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 549,315 shares of the oil and gas exploration company’s stock worth $20,429,000 after acquiring an additional 104,096 shares during the period. Entropy Technologies LP raised its position in Range Resources by 321.3% in the first quarter. Entropy Technologies LP now owns 52,114 shares of the oil and gas exploration company’s stock worth $2,355,000 after acquiring an additional 39,745 shares during the period. MAC Alpha Capital Management LP boosted its stake in Range Resources by 41.6% in the second quarter. MAC Alpha Capital Management LP now owns 250,456 shares of the oil and gas exploration company’s stock valued at $9,315,000 after acquiring an additional 73,600 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Range Resources in the 3rd quarter worth approximately $6,360,000. Hedge funds and other institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

Shares of RRC opened at $48.89 on Friday. The firm has a market cap of $11.43 billion, a PE ratio of 12.97 and a beta of 0.64. Range Resources has a 52-week low of $32.68 and a 52-week high of $56.90. The business’s 50 day moving average price is $43.38 and its two-hundred day moving average price is $40.83. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 0.74.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 27th. The oil and gas exploration company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Range Resources had a net margin of 25.25% and a return on equity of 19.15%. The company had revenue of $842.83 million during the quarter, compared to analyst estimates of $795.19 million. During the same quarter in the previous year, the business posted $0.57 EPS. Range Resources’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Range Resources will post 3.85 EPS for the current year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Range Resources’s dividend payout ratio is 10.61%.

About Range Resources