Range Resources (NYSE:RRC) Releases Quarterly Earnings Results

Range Resources (NYSE:RRC) announced its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.16, Briefing.com reports. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $615.03 million during the quarter, compared to the consensus estimate of $617.90 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year.

Range Resources Stock Performance

Shares of Range Resources stock traded down $0.18 on Friday, reaching $31.26. The stock had a trading volume of 390,918 shares, compared to its average volume of 2,359,390. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50-day moving average price is $30.23 and its two-hundred day moving average price is $33.06. The stock has a market cap of $7.58 billion, a P/E ratio of 15.96 and a beta of 1.80. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $39.33.

Range Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.02%. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insider Activity at Range Resources

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total transaction of $399,415.00. Following the completion of the sale, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RRC. Morgan Stanley decreased their target price on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Piper Sandler lowered Range Resources from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $43.00 to $31.00 in a report on Thursday, August 15th. Wells Fargo & Company lowered their price target on Range Resources from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday. UBS Group dropped their price target on Range Resources from $30.00 to $27.00 and set a “sell” rating on the stock in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Range Resources currently has a consensus rating of “Hold” and a consensus price target of $35.06.

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.