Stocks of Range Resources Corporation (NYSE:RRC) traded higher last session on Wall Street, up 0.20% to $29.40.
According to the data, Range Resources Corporation (NYSE:RRC) has 28 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $48.00 and a low of $20.00, we find $32.00. Given the previous closing price of $29.34, this indicates a potential upside of 9.07 percent. RRC stock price is now 7.94% away from the 50-day moving average and 10.26% away from the 200-day moving average. The market capitalization of the company currently stands at $6.92B.
A total of 11 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $32.24 as their price target over the next twelve months.
With the price target enhanced from $30 to $31, Goldman Upgraded its rating from Sell to Neutral for Range Resources Corporation (NYSE: RRC).
In other news, Spiller Reginal, Director sold 1,950 shares of the company’s stock on Jun 15. The stock was sold for $52,260 at an average price of $26.80. Upon completion of the transaction, the Director now directly owns 16,713 shares in the company, valued at $0.49 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 01, SVP, Principal Accting Officer Ginn Dori sold 32,000 shares of the business’s stock. A total of $866,880 was realized by selling the stock at an average price of $27.09. This leaves the insider owning 250,738 shares of the company worth $7.37 million. Insiders disposed of 839,884 shares of company stock worth roughly $24.69 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 $84,736,000. ASSENAGON ASSET MANAGEMENT S.A. invested $41,114,000 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 $23,872,000. PICTET & CIE (EUROPE) SA acquired a new stake in RRC for approximately $15,253,000. EMPYREAN CAPITAL PARTNERS, LP purchased a new stake in RRC valued at around $11,760,000 in the second quarter. In total, there are 531 active investors with 89.50% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $29.69 for Range Resources Corporation (NYSE: RRC). During the past 12 months, Range Resources Corporation has had a low of $22.61 and a high of $36.38. 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. According to the stock market information, the enterprise value for the company is $8.70B, which is based on a 3.44 price-to-earnings ratio, a 0.28 price-to-earnings-growth ratio, and a beta of 2.12. The fifty day moving average price for RRC is $27.30 and a two-hundred day moving average price translates $26.65 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 $609.67M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/16/2023 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 1.09% percent yield. There was an ex-dividend date of 06/15/2023 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.
