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

Shares of Range Resources Corporation (NYSE:RRC) have been assigned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $42.7647.

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Range Resources from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Citigroup lifted their price target on shares of Range Resources from $36.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Wells Fargo & Company boosted their price target on shares of Range Resources from $43.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Bank of America reissued a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Range Resources in a research report on Friday, January 16th. Finally, 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 report on Thursday, March 12th.

Range Resources Price Performance

Shares of NYSE RRC opened at $47.62 on Friday. The stock’s 50-day moving average is $39.68 and its two-hundred day moving average is $37.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.67 and a quick ratio of 0.67. Range Resources has a 1-year low of $30.32 and a 1-year high of $48.31. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.44 and a beta of 0.57.

Range Resources (NYSE:RRC) last announced 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 the consensus estimate of $0.69 by $0.13. Range Resources had a return on equity of 16.31% and a net margin of 21.12%.The business had revenue of $786.89 million during the quarter, compared to analysts’ expectations of $770.92 million. During the same quarter last year, the business posted $0.68 EPS. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. Analysts forecast that Range Resources will post 2.02 EPS for the current fiscal year.

Range Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. This is a boost from Range Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 13th. Range Resources’s dividend payout ratio is currently 14.60%.

Institutional Trading of Range Resources

Institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in shares of Range Resources in the 4th quarter valued at about $34,000. True Wealth Design LLC raised its position in shares of Range Resources by 116.3% during the 3rd quarter. True Wealth Design LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 541 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Range Resources by 49.6% during the third quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 336 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Range Resources during the fourth quarter worth approximately $57,000. Finally, Basepoint Wealth LLC acquired a new position in Range Resources in the fourth quarter valued at approximately $61,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

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.