Range Resources (NYSE:RRC) Issues Earnings Results

Range Resources (NYSE:RRC) posted its earnings results on Tuesday. The oil and gas exploration company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.21, Briefing.com reports. Range Resources had a net margin of 25.82% and a return on equity of 15.87%. The company had revenue of $718.20 million during the quarter, compared to analysts’ expectations of $680.72 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. Range Resources’s revenue for the quarter was down 15.7% compared to the same quarter last year.

Range Resources Stock Up 1.3 %

Shares of Range Resources stock traded up $0.47 during trading hours on Tuesday, hitting $36.58. The company had a trading volume of 2,935,469 shares, compared to its average volume of 2,544,233. The company’s 50-day moving average is $33.18 and its two-hundred day moving average is $32.30. Range Resources has a twelve month low of $23.92 and a twelve month high of $37.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $8.86 billion, a P/E ratio of 10.35 and a beta of 1.83.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, March 14th. Range Resources’s dividend payout ratio (DPR) is presently 9.04%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RRC shares. Scotiabank cut shares of Range Resources from a “sector outperform” rating to a “sector perform” rating and increased their target price for the company from $40.00 to $45.00 in a research report on Thursday, April 11th. Mizuho reaffirmed a “buy” rating and issued a $39.00 price target on shares of Range Resources in a report on Thursday, April 11th. Benchmark cut shares of Range Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Truist Financial reduced their target price on shares of Range Resources from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Range Resources in a report on Tuesday, April 9th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.00.

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.