Range Resources Co. (NYSE:RRC) Receives $38.78 Consensus PT from Analysts

Range Resources Co. (NYSE:RRC) has received an average recommendation of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $38.78.

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised shares of Range Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $45.00 in a research note on Monday, January 13th. Scotiabank lowered Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research note on Friday, January 17th. Finally, The Goldman Sachs Group increased their price target on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in Range Resources by 276.8% during the third quarter. CWM LLC now owns 2,306 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 1,694 shares during the last quarter. Creative Planning raised its holdings in shares of Range Resources by 2.0% during the 3rd quarter. Creative Planning now owns 56,744 shares of the oil and gas exploration company’s stock worth $1,745,000 after acquiring an additional 1,089 shares during the period. Blue Trust Inc. boosted its position in shares of Range Resources by 107.8% during the 3rd quarter. Blue Trust Inc. now owns 1,359 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 705 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Range Resources by 4.2% in the third quarter. Raymond James & Associates now owns 260,043 shares of the oil and gas exploration company’s stock valued at $7,999,000 after purchasing an additional 10,391 shares during the period. Finally, International Assets Investment Management LLC increased its position in Range Resources by 2,976.0% during the third quarter. International Assets Investment Management LLC now owns 61,520 shares of the oil and gas exploration company’s stock worth $2,000,000 after purchasing an additional 59,520 shares during the last quarter. 98.93% of the stock is currently owned by institutional investors and hedge funds.

Range Resources Stock Down 1.4 %

Shares of RRC opened at $37.94 on Thursday. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 5.11 and a beta of 1.78. Range Resources has a 52 week low of $27.29 and a 52 week high of $41.95. The stock’s 50-day moving average price is $37.65 and its 200-day moving average price is $33.77. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 0.84%. Range Resources’s dividend payout ratio is presently 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.