Range Resources (NYSE:RRC) Announces Quarterly Earnings Results

Range Resources (NYSE:RRC) issued its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13, RTT News reports. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the business earned $0.63 earnings per share.

Range Resources Trading Up 2.7 %

NYSE:RRC traded up $1.00 during mid-day trading on Wednesday, hitting $38.50. The company had a trading volume of 1,834,585 shares, compared to its average volume of 2,573,367. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a market cap of $9.29 billion, a P/E ratio of 19.24, a P/E/G ratio of 5.11 and a beta of 1.78. The business’s fifty day moving average is $37.71 and its two-hundred day moving average is $33.83.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. Range Resources’s dividend payout ratio is presently 16.16%.

Wall Street Analyst Weigh In

RRC has been the subject of several analyst reports. Benchmark reissued a “hold” rating on shares of Range Resources in a report on Friday, January 17th. Stephens lifted their price target on Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group increased their price objective on shares of Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Mizuho raised their price objective on shares of Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Bank of America upgraded shares of Range Resources from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $45.00 in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.83.

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.