Range Resources (NYSE:RRC) Announces Quarterly Earnings Results

Range Resources (NYSE:RRC) posted its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05, Briefing.com reports. The company had revenue of $641.30 million for the quarter, compared to analyst estimates of $610.24 million. Range Resources had a net margin of 17.00% and a return on equity of 13.30%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share.

Range Resources Stock Down 2.9 %

Shares of NYSE:RRC traded down $0.95 during trading on Wednesday, reaching $32.14. 2,790,902 shares of the company traded hands, compared to its average volume of 2,475,027. The firm has a fifty day simple moving average of $35.20 and a 200 day simple moving average of $33.59. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. Range Resources has a 1-year low of $27.60 and a 1-year high of $39.33. The firm has a market cap of $7.80 billion, a P/E ratio of 16.46 and a beta of 1.87.

Range Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 1.00%. Range Resources’s dividend payout ratio is presently 16.24%.

Insider Transactions at Range Resources

In related news, Director Reginal Spiller sold 1,460 shares of Range Resources stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total transaction of $56,472.80. Following the completion of the sale, the director now owns 15,253 shares of the company’s stock, valued at $589,986.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Reginal Spiller sold 1,460 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $38.68, for a total value of $56,472.80. Following the transaction, the director now directly owns 15,253 shares of the company’s stock, valued at approximately $589,986.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis Degner sold 101,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $37.78, for a total value of $3,815,780.00. Following the sale, the chief executive officer now directly owns 198,154 shares of the company’s stock, valued at approximately $7,486,258.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,107 shares of company stock valued at $7,379,095. 1.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RRC shares. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Wednesday. Citigroup boosted their price target on Range Resources from $33.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Mizuho increased their price target on Range Resources from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 13th. Jefferies Financial Group lifted their price objective on Range Resources from $34.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Wolfe Research assumed coverage on Range Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.15.

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.