Range Resources (NYSE:RRC) Reaches New 12-Month High – Should You Buy?

Range Resources Co. (NYSE:RRC) hit a new 52-week high on Wednesday . The company traded as high as $41.74 and last traded at $41.71, with a volume of 534382 shares. The stock had previously closed at $40.97.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RRC. Barclays upgraded Range Resources from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Piper Sandler decreased their price target on shares of Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. Truist Financial lifted their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. UBS Group raised shares of Range Resources from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $28.00 to $35.00 in a report on Monday, December 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $40.00 target price on shares of Range Resources in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.16.

Range Resources Stock Performance

The company has a 50 day simple moving average of $36.17 and a 200 day simple moving average of $32.78. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 20.28 and a beta of 1.81. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last posted its earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. The firm had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, equities research analysts forecast that Range Resources Co. will post 2.04 EPS for the current year.

Range Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, December 13th. Range Resources’s dividend payout ratio is currently 16.16%.

Hedge Funds Weigh In On Range Resources

Several large investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in Range Resources during the 3rd quarter worth $25,000. UMB Bank n.a. increased its stake in shares of Range Resources by 59.0% in the fourth quarter. UMB Bank n.a. now owns 1,148 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 426 shares during the period. Blue Trust Inc. raised its position in shares of Range Resources by 107.8% during the third 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 during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Range Resources in the fourth quarter worth approximately $46,000. Finally, Bogart Wealth LLC bought a new stake in Range Resources in the third quarter valued at approximately $49,000. Institutional investors own 98.93% of the company’s stock.

Range Resources Company Profile

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.