Range Resources (NYSE:RRC) Issues Earnings Results, Beats Estimates By $0.13 EPS

Range Resources (NYSE:RRC) issued its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.13, RTT News reports. The firm had revenue of $626.42 million for the quarter, compared to the consensus estimate of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same period in the prior year, the business posted $0.63 earnings per share.

Range Resources Stock Up 2.4 %

Shares of RRC stock traded up $0.91 during trading on Wednesday, reaching $38.41. The company’s stock had a trading volume of 2,427,763 shares, compared to its average volume of 2,586,785. The business has a fifty day moving average price of $37.71 and a 200-day moving average price of $33.83. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78. Range Resources has a one year low of $27.29 and a one year high of $41.95.

Range Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank cut Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, January 17th. Mizuho boosted their target price on Range Resources from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Barclays upped their price objective on Range Resources from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. StockNews.com raised Range Resources to a “sell” rating in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group raised their price target on Range Resources from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.83.

About Range Resources

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.