Range Resources (NYSE:RRC) Releases Earnings Results, Beats Expectations By $0.16 EPS

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

Range Resources Trading Up 3.4 %

NYSE:RRC opened at $30.93 on Thursday. The company has a 50 day simple moving average of $30.21 and a two-hundred day simple moving average of $33.08. The company has a market cap of $7.50 billion, a PE ratio of 15.70 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Friday, September 13th. Range Resources’s dividend payout ratio is currently 16.24%.

Insider Activity

In related news, VP Ashley Kavanaugh sold 12,700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was 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 owns 9,670 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 1.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on RRC shares. The Goldman Sachs Group decreased their target price on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. reduced their price objective on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Scotiabank raised Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $39.00 target price on shares of Range Resources in a research note on Thursday, July 25th. Finally, Morgan Stanley lowered their price target on Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.12.

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.