Brokerages Set Range Resources Corporation (NYSE:RRC) Price Target at $43.41

Shares of Range Resources Corporation (NYSE:RRC) have earned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $43.4118.

RRC has been the topic of several research reports. Stephens dropped their price target on Range Resources from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Barclays upped their price target on Range Resources from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 16th. Bank of America upped their price target on Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Wells Fargo & Company upped their price target on Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, TD Cowen upped their price target on Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, March 17th.

Range Resources Stock Performance

Shares of RRC opened at $42.33 on Friday. The business’s 50 day moving average is $42.98 and its two-hundred day moving average is $39.05. Range Resources has a 52-week low of $32.60 and a 52-week high of $48.31. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 11.20 and a beta of 0.46. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.27. Range Resources had a return on equity of 18.64% and a net margin of 26.09%.The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $898.20 million. During the same period in the prior year, the company posted $0.96 EPS. Range Resources’s quarterly revenue was up 49.8% on a year-over-year basis. Analysts forecast that Range Resources will post 3.75 EPS for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. This is an increase from Range Resources’s previous quarterly dividend of $0.09. Range Resources’s dividend payout ratio is currently 10.58%.

Insider Activity

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $44.40, for a total transaction of $310,800.00. Following the sale, the director directly owned 28,668 shares of the company’s stock, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in Range Resources during the 4th quarter worth $34,000. Smartleaf Asset Management LLC grew its stake in Range Resources by 49.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 336 shares during the last quarter. Root Financial Partners LLC grew its stake in Range Resources by 37.8% during the 1st quarter. Root Financial Partners LLC now owns 1,006 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 276 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in Range Resources during the 4th quarter worth $57,000. Finally, Basepoint Wealth LLC bought a new position in Range Resources during the 4th quarter worth $61,000. 98.93% of the stock is currently owned by institutional investors.

About Range Resources

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.