Range Resources Co. (NYSE:RRC) Receives $36.00 Consensus Target Price from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $36.32.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price 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. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. StockNews.com raised shares of Range Resources to a “sell” rating in a research note on Wednesday, November 27th. Mizuho raised their price target on Range Resources from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group cut their price objective on Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, September 6th.

Range Resources Stock Performance

Shares of Range Resources stock opened at $35.91 on Wednesday. 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 has a 52 week low of $27.29 and a 52 week high of $39.33. The firm’s 50 day moving average is $34.13 and its two-hundred day moving average is $32.26. The firm has a market capitalization of $8.67 billion, a P/E ratio of 18.14 and a beta of 1.85.

Range Resources (NYSE:RRC) last released its quarterly earnings data on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.16. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Range Resources’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts forecast that Range Resources will post 1.91 EPS for the current fiscal year.

Range Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.89%. Range Resources’s dividend payout ratio is currently 16.16%.

Insider Activity

In related news, Director Charles G. Griffie acquired 1,275 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $186,274.66. The trade was a 27.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RRC. HITE Hedge Asset Management LLC acquired a new stake in Range Resources during the 3rd quarter worth about $11,508,000. Charles Schwab Investment Management Inc. boosted its stake in Range Resources by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,017,704 shares of the oil and gas exploration company’s stock worth $62,065,000 after purchasing an additional 92,217 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of Range Resources by 135.5% during the third quarter. Aptus Capital Advisors LLC now owns 112,008 shares of the oil and gas exploration company’s stock valued at $3,445,000 after buying an additional 64,443 shares in the last quarter. HighTower Advisors LLC boosted its position in Range Resources by 59.9% during the 3rd quarter. HighTower Advisors LLC now owns 131,571 shares of the oil and gas exploration company’s stock worth $4,045,000 after acquiring an additional 49,276 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Range Resources by 32.5% during the 3rd quarter. Victory Capital Management Inc. now owns 65,819 shares of the oil and gas exploration company’s stock valued at $2,025,000 after acquiring an additional 16,134 shares in the last quarter. Institutional investors own 98.93% of the company’s stock.

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.