Range Resources Co. (RRC) to Issue Quarterly Dividend of $0.09 on March 28th

Range Resources Co. (NYSE:RRC) declared a quarterly dividend on Friday, February 28th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from Range Resources’s previous quarterly dividend of $0.08.

Range Resources has a payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Range Resources to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.7%.

Range Resources Price Performance

Shares of RRC stock opened at $37.11 on Friday. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 5.11 and a beta of 1.77. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The stock has a 50-day moving average price of $37.97 and a 200 day moving average price of $33.95. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.28.

Range Resources (NYSE:RRC) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. The business had revenue of $626.42 million during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.63 EPS. Research analysts expect that Range Resources will post 2.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RRC shares. Stephens boosted their target price on Range Resources from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. UBS Group upped their price objective on Range Resources from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Scotiabank downgraded Range Resources from a “sector outperform” rating to a “sector perform” rating and set a $45.00 target price for the company. in a research report on Friday, January 17th. Finally, Barclays set a $43.00 target price on Range Resources and gave the company an “equal weight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.00.

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.