The stock of Range Resources Corp (NYSE:RRC) last traded at $31.33, up 3.84% from the previous session.
Data from the available sources indicates that Range Resources Corp (NYSE:RRC) is covered by 28 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $49.00 and a low of $21.00, we find $35.00. Given the previous closing price of $30.17, this indicates a potential upside of 16.01 percent. RRC stock price is now -1.63% away from the 50-day moving average and 12.52% away from the 200-day moving average. The market capitalization of the company currently stands at $7.56B.
In total, 12 analysts have assigned it a hold rating, and 12 have given it a buy rating. Brokers who have rated the stock have averaged $35.64 as their price target over the next twelve months.
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 $0.52 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 $7.86 million. Insiders disposed of 885,000 shares of company stock worth roughly $27.73 million over the past 1 year. A total of 3.00% 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 Corp shares was purchased by LORD, ABBETT & CO. LLC during the first quarter worth $27,508,000. STEADFAST CAPITAL MANAGEMENT LP invested $22,213,000 in shares of RRC during the first quarter. In the first quarter, CANOE FINANCIAL LP acquired a new stake in Range Resources Corp valued at approximately $20,083,000. WEDGE CAPITAL MANAGEMENT L L P/NC acquired a new stake in RRC for approximately $19,193,000. CEREDEX VALUE ADVISORS LLC purchased a new stake in RRC valued at around $13,433,000 in the second quarter. In total, there are 519 active investors with 95.27% ownership of the company’s stock.
With an opening price of $30.07 on Thursday morning, Range Resources Corp (NYSE: RRC) set off the trading day. During the past 12 months, Range Resources Corp has had a low of $22.61 and a high of $34.54. As of last week, the company has a debt-to-equity ratio of 0.53, a current ratio of 0.86, and a quick ratio of 0.86. According to the stock market information, the enterprise value for the company is $8.91B, which is based on a 4.56 price-to-earnings ratio, a 0.37 price-to-earnings-growth ratio, and a beta of 2.13. The fifty day moving average price for RRC is $31.85 and a two-hundred day moving average price translates $27.87 for the stock.
The latest earnings results from Range Resources Corp (NYSE: RRC) was released for Jun, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $0.3, beating analysts’ expectations of $0.25 by 0.05. This compares to $1.77 EPS in the same period last year. The net profit margin was 40.64% and return on equity was 61.85% for RRC. The company reported revenue of $636.98 million for the quarter, compared to $1.23 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -48.01 percent. For the current quarter, analysts expect RRC to generate $601.8M 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 1.02% 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 3.41%.
Range Resources Corp(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.
