Brokerages Set Range Resources Corporation (NYSE:RRC) Target Price at $42.76

Range Resources Corporation (NYSE:RRC) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $43.1765.

Several equities research analysts have recently issued reports on RRC shares. Morgan Stanley reduced their price target on Range Resources from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Citigroup increased their price objective on Range Resources from $43.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler raised their price objective on shares of Range Resources from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Barclays lifted their target price on shares of Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Finally, Mizuho boosted their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th.

Institutional Trading of Range Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. McAlvany Wealth Management LLC bought a new position in shares of Range Resources in the 4th quarter valued at approximately $2,942,000. Rockefeller Capital Management L.P. boosted its position in Range Resources by 9.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 89,315 shares of the oil and gas exploration company’s stock worth $3,149,000 after purchasing an additional 7,541 shares during the period. Corient Private Wealth LLC boosted its position in Range Resources by 36.6% during the fourth quarter. Corient Private Wealth LLC now owns 9,995 shares of the oil and gas exploration company’s stock worth $353,000 after purchasing an additional 2,677 shares during the period. Hsbc Holdings PLC grew its holdings in Range Resources by 22.8% during the fourth quarter. Hsbc Holdings PLC now owns 427,713 shares of the oil and gas exploration company’s stock valued at $14,966,000 after purchasing an additional 79,533 shares during the last quarter. Finally, Fearnley Asset Management AS bought a new position in shares of Range Resources in the fourth quarter valued at approximately $17,927,000. Institutional investors and hedge funds own 98.93% of the company’s stock.

Range Resources Trading Down 0.2%

NYSE RRC opened at $43.35 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.28. Range Resources has a 1-year low of $30.32 and a 1-year high of $48.31. The firm’s fifty day simple moving average is $40.41 and its 200-day simple moving average is $37.94. The company has a market capitalization of $10.21 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, February 24th. The oil and gas exploration company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The firm had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter last year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Range Resources will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. This is a boost from Range Resources’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, March 13th. Range Resources’s dividend payout ratio is currently 14.60%.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.