In yesterday’s Wall Street session, Range Resources Corporation (NYSE:RRC) shares traded at $27.19, down -0.73% from the previous session.
29 analysts cover Range Resources Corporation (NYSE:RRC), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $20.00, we find $31.50. Given the previous closing price of $27.39, this indicates a potential upside of 15.01 percent. RRC stock price is now 5.87% away from the 50-day moving average and -0.51% away from the 200-day moving average. The market capitalization of the company currently stands at $6.23B.
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The stock has received a hold rating from 12 analysts and a buy rating from 12. Brokers who have rated the stock have averaged $31.81 as their price target over the next twelve months.
With the price target maintained at $32, The Benchmark Company recently Upgraded its rating from Hold to Buy for Range Resources Corporation (NYSE: RRC). On April 25, 2023, Stephens recently initiated its ‘Overweight’ rating on the stock quoting a target price of $34, while ‘UBS’ rates the stock as ‘Sell’.
In other news, Ginn Dori, SVP, Principal Accting Officer sold 5,000 shares of the company’s stock on Aug 26. The stock was sold for $173,255 at an average price of $34.65. Upon completion of the transaction, the SVP, Principal Accting Officer now directly owns 80,801 shares in the company, valued at $2.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02, Director Spiller Reginal sold 1,600 shares of the business’s stock. A total of $50,306 was realized by selling the stock at an average price of $31.44. This leaves the insider owning 10,685 shares of the company worth $0.29 million. Insiders disposed of 421,328 shares of company stock worth roughly $11.46 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RRC stock. A new stake in Range Resources Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $78,366,000. ASSENAGON ASSET MANAGEMENT S.A. invested $38,024,000 in shares of RRC during the first quarter. In the first quarter, HITE HEDGE ASSET MANAGEMENT LLC acquired a new stake in Range Resources Corporation valued at approximately $22,077,000. PICTET & CIE (EUROPE) SA acquired a new stake in RRC for approximately $14,106,000. EMPYREAN CAPITAL PARTNERS, LP purchased a new stake in RRC valued at around $10,876,000 in the second quarter. In total, there are 531 active investors with 89.50% ownership of the company’s stock.
On Tuesday morning Range Resources Corporation (NYSE: RRC) stock kicked off with the opening price of $27.32. During the past 12 months, Range Resources Corporation has had a low of $22.61 and a high of $37.44. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for RRC is $25.68 and a two-hundred day moving average price translates $27.30 for the stock.
The latest earnings results from Range Resources Corporation (NYSE: RRC) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.99, beating analysts’ expectations of $0.82 by 0.17. This compares to -$1.86 EPS in the same period last year. The company reported revenue of $1.19 billion for the quarter, compared to $180.74 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 556.4 percent. For the current quarter, analysts expect RRC to generate $614.99M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/31/2023. Investors who held shares on 03/15/2023 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 1.18% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, RRC is presently at 3.35%.
Range Resources Corporation(RRC) Company Profile
Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States. The company engages in the exploration, development, and acquisition of natural gas and oil properties. It markets and sells natural gas and NGLs to utilities, marketing and midstream companies, and industrial users; petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies. The company was formerly known as Lomak Petroleum, Inc. and changed its name to Range Resources Corporation in 1998. The company was founded in 1976 and is headquartered in Fort Worth, Texas.
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