Range Resources (NYSE:RRC) Releases Quarterly Earnings Results

Range Resources (NYSE:RRC) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.21, Briefing.com reports. Range Resources had a return on equity of 13.30% and a net margin of 17.00%. The company had revenue of $718.20 million for the quarter, compared to analyst estimates of $680.72 million. During the same quarter last year, the firm posted $0.96 earnings per share. Range Resources’s revenue was down 15.7% compared to the same quarter last year.

Range Resources Trading Down 2.2 %

Shares of RRC stock traded down $0.81 during mid-day trading on Friday, reaching $36.84. 559,839 shares of the stock traded hands, compared to its average volume of 2,564,261. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 19.13 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $33.67 and its two-hundred day simple moving average is $32.40. Range Resources has a 1-year low of $23.92 and a 1-year high of $38.25.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is 16.24%.

Insider Activity

In related news, VP Ashley Kavanaugh sold 15,978 shares of Range Resources stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $37.75, for a total transaction of $603,169.50. Following the sale, the vice president now directly owns 22,370 shares in the company, valued at approximately $844,467.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on RRC. Piper Sandler increased their price objective on shares of Range Resources from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus increased their price objective on Range Resources from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna boosted their price target on shares of Range Resources from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and upped their target price for the company from $40.00 to $45.00 in a report on Thursday, April 11th. Finally, Citigroup raised their target price on shares of Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.55.

About Range Resources

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.