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

Shares of Range Resources Corporation (NYSE:RRC) have been assigned an average rating of “Hold” from the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $46.22.

Several equities analysts have weighed in on RRC shares. Stephens raised their target price on Range Resources from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. BMO Capital Markets restated a “market perform” rating on shares of Range Resources in a report on Monday, October 5th. Citigroup reaffirmed a “neutral” rating on shares of Range Resources in a research report on Thursday, July 23rd. UBS Group dropped their price objective on Range Resources from $49.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Finally, Mizuho boosted their price objective on Range Resources from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th.

Range Resources Stock Performance

Shares of RRC stock opened at $51.97 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.74 and a quick ratio of 0.74. Range Resources has a fifty-two week low of $32.68 and a fifty-two week high of $56.90. The stock’s 50-day moving average is $43.77 and its two-hundred day moving average is $40.98. The firm has a market cap of $12.14 billion, a P/E ratio of 13.78 and a beta of 0.64.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 27th. The oil and gas exploration company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $842.83 million during the quarter, compared to analyst estimates of $795.19 million. Range Resources had a return on equity of 19.15% and a net margin of 25.25%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. Analysts predict that Range Resources will post 3.85 earnings per share for the current fiscal year.

Range Resources Announces Dividend

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

Hedge Funds Weigh In On Range Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Range Resources during the 2nd quarter worth approximately $868,085,000. Boston Partners increased its position in shares of Range Resources by 4.5% during the third quarter. Boston Partners now owns 12,779,480 shares of the oil and gas exploration company’s stock valued at $473,728,000 after purchasing an additional 552,648 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Range Resources by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,192,740 shares of the oil and gas exploration company’s stock valued at $415,354,000 after purchasing an additional 227,711 shares in the last quarter. Canoe Financial LP raised its stake in shares of Range Resources by 19.3% in the third quarter. Canoe Financial LP now owns 3,953,091 shares of the oil and gas exploration company’s stock valued at $148,403,000 after purchasing an additional 639,200 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in Range Resources by 35.9% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,721,749 shares of the oil and gas exploration company’s stock worth $122,969,000 after purchasing an additional 718,648 shares during the period. 98.93% of the stock is currently owned by institutional investors.

Range Resources Company Profile

Range Resources Corporation is an independent energy company focused on exploring for, developing and producing natural gas, natural gas liquids and crude oil. Its operations are concentrated in the Appalachian Basin, particularly the Marcellus Shale in southwestern Pennsylvania. The company also markets and sells its production to customers in the energy and industrial sectors. Range Resources has played a significant role in developing the Marcellus Shale, a major natural gas-producing formation in the United States.