Fintel reports that on April 25, 2023, Stephens & Co. initiated coverage of Range Resources (NYSE:RRC) with a Overweight recommendation.
Analyst Price Forecast Suggests 25.61% Upside
As of April 24, 2023, the average one-year price target for Range Resources is 32.27. The forecasts range from a low of 20.20 to a high of $53.55. The average price target represents an increase of 25.61% from its latest reported closing price of 25.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Range Resources is 3,808MM, a decrease of 39.95%. The projected annual non-GAAP EPS is 5.15.
Range Resources Declares $0.08 Dividend
On March 1, 2023 the company declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of March 15, 2023 received the payment on March 31, 2023. Previously, the company paid $0.08 per share.
At the current share price of $25.69 / share, the stock's dividend yield is 1.25%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.07%, the lowest has been 0.45%, and the highest has been 2.38%. The standard deviation of yields is 0.49 (n=126).
The current dividend yield is 0.36 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 926 funds or institutions reporting positions in Range Resources. This is an increase of 27 owner(s) or 3.00% in the last quarter. Average portfolio weight of all funds dedicated to RRC is 0.31%, a decrease of 4.69%. Total shares owned by institutions increased in the last three months by 2.52% to 242,426K shares. 
The put/call ratio of RRC is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
IJH - iShares Core S&P Mid-Cap ETF holds 7,462K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 7,241K shares, representing an increase of 2.96%. The firm decreased its portfolio allocation in RRC by 10.90% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,969K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 7,480K shares, representing a decrease of 7.33%. The firm decreased its portfolio allocation in RRC by 14.78% over the last quarter.
Capital World Investors holds 6,946K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 907K shares, representing an increase of 86.94%. The firm increased its portfolio allocation in RRC by 620.23% over the last quarter.
Exor Capital LLP holds 6,347K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 6,190K shares, representing an increase of 2.47%. The firm decreased its portfolio allocation in RRC by 47.03% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 6,000K shares representing 2.48% ownership of the company.
Range Resources Background Information
(This description is provided by the company.)
Range Resources Corporation is a leading U.S. independent natural gas and NGL producer with operations focused in stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
