Range Resources Co. (NYSE:RRC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Range Resources Co. (NYSE:RRC) have earned a consensus recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.00.

Several brokerages have recently weighed in on RRC. Citigroup upped their target price on Range Resources from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Benchmark reissued a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Wells Fargo & Company increased their price objective on Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho increased their price objective on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Wolfe Research raised Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Friday, January 3rd.

Hedge Funds Weigh In On Range Resources

Hedge funds have recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in shares of Range Resources during the 3rd quarter worth $25,000. UMB Bank n.a. lifted its stake in Range Resources by 59.0% during the 4th quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 worth $46,000 after acquiring an additional 705 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in Range Resources during the 4th quarter worth about $46,000. Finally, Bogart Wealth LLC acquired a new position in Range Resources during the 3rd quarter worth about $49,000. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

Range Resources Trading Down 0.2 %

Shares of RRC stock opened at $37.52 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.95 and a beta of 1.81. The stock has a 50 day simple moving average of $36.51 and a 200-day simple moving average of $32.92. Range Resources has a 1-year low of $27.29 and a 1-year high of $41.95.

Range Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio 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.