Range Resources Co. (NYSE:RRC) Receives Average Recommendation of “Hold” from Analysts

Shares of Range Resources Co. (NYSE:RRC) have been given an average recommendation of “Hold” by the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.22.

RRC has been the topic of several research reports. Citigroup boosted their price target on shares of Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Scotiabank downgraded shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price on the stock. in a report on Friday, January 17th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $40.00 price target on shares of Range Resources in a research note on Tuesday, January 14th. Finally, Piper Sandler decreased their target price on Range Resources from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC acquired a new position in shares of Range Resources in the 4th quarter valued at $567,000. Alliance Wealth Advisors LLC UT increased its stake in shares of Range Resources by 7.3% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 19,973 shares of the oil and gas exploration company’s stock worth $719,000 after acquiring an additional 1,367 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of Range Resources during the fourth quarter worth $339,000. Parsons Capital Management Inc. RI raised its holdings in shares of Range Resources by 149.8% during the fourth quarter. Parsons Capital Management Inc. RI now owns 104,650 shares of the oil and gas exploration company’s stock worth $3,765,000 after purchasing an additional 62,750 shares during the last quarter. Finally, Mariner Investment Group LLC lifted its position in Range Resources by 28.6% during the fourth quarter. Mariner Investment Group LLC now owns 45,000 shares of the oil and gas exploration company’s stock valued at $1,619,000 after purchasing an additional 10,000 shares during the period. 98.93% of the stock is owned by institutional investors and hedge funds.

Range Resources Stock Performance

NYSE:RRC opened at $40.16 on Friday. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 20.28 and a beta of 1.81. Range Resources has a 1 year low of $27.29 and a 1 year high of $41.95. The stock’s 50 day simple moving average is $36.30 and its two-hundred day simple moving average is $32.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54.

Range Resources Dividend Announcement

The company 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 dividend yield of 0.80%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

About Range Resources

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.