Brokerages Set Range Resources Co. (NYSE:RRC) Price Target at $35.06

Range Resources Co. (NYSE:RRC) has received a consensus recommendation of “Hold” from the twenty brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $35.50.

Several analysts have weighed in on RRC shares. The Goldman Sachs Group dropped their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. decreased their price objective on shares of Range Resources from $37.00 to $31.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 20th. Morgan Stanley reduced their target price 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, UBS Group raised shares of Range Resources from a “sell” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $35.00 in a research note on Monday.

Insider Buying and Selling at Range Resources

In other news, Director Charles G. Griffie purchased 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $31.46 per share, for a total transaction of $40,111.50. Following the completion of the acquisition, the director now directly owns 5,921 shares in the company, valued at approximately $186,274.66. The trade was a 27.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the transaction, the vice president now owns 9,670 shares in the company, valued at approximately $304,121.50. The trade was a 56.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Range Resources

Hedge funds have recently bought and sold shares of the company. Lingotto Investment Management LLP raised its holdings in shares of Range Resources by 1.5% during the second quarter. Lingotto Investment Management LLP now owns 6,451,726 shares of the oil and gas exploration company’s stock worth $216,326,000 after acquiring an additional 93,782 shares during the period. KGH Ltd raised its holdings in shares of Range Resources by 3.2% in the second quarter. KGH Ltd now owns 6,080,000 shares of the oil and gas exploration company’s stock valued at $203,862,000 after purchasing an additional 190,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Range Resources by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,003,299 shares of the oil and gas exploration company’s stock worth $123,174,000 after purchasing an additional 35,344 shares during the last quarter. Canoe Financial LP grew its holdings in shares of Range Resources by 114.9% in the 3rd quarter. Canoe Financial LP now owns 2,660,309 shares of the oil and gas exploration company’s stock valued at $81,299,000 after acquiring an additional 1,422,200 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Range Resources in the second quarter valued at about $78,223,000. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Performance

Shares of Range Resources stock opened at $35.98 on Friday. 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 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.68 billion, a P/E ratio of 18.17 and a beta of 1.85. The stock’s fifty day moving average price is $32.79 and its 200-day moving average price is $32.41.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The business had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Range Resources will post 1.9 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.89%. Range Resources’s dividend payout ratio is currently 16.16%.

Range Resources Company Profile

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.