Range Resources Co. to Issue Quarterly Dividend of $0.08 (NYSE:RRC)

Range Resources Co. (NYSE:RRC) announced a quarterly dividend on Friday, November 29th,RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.08 per share by the oil and gas exploration company on Friday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%.

Range Resources has a payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Range Resources to earn $2.36 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 13.6%.

Range Resources Stock Performance

Shares of RRC stock opened at $35.59 on Friday. Range Resources has a one year low of $27.29 and a one year high of $39.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The firm’s 50 day moving average price is $31.98 and its 200-day moving average price is $32.55. The firm has a market cap of $8.59 billion, a P/E ratio of 17.97 and a beta of 1.80.

Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, October 22nd. The oil and gas exploration company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.16. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. The company had revenue of $615.03 million for the quarter, compared to analysts’ expectations of $617.90 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Range Resources will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research report on Wednesday, October 23rd. Susquehanna reduced their target price on shares of Range Resources from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. StockNews.com upgraded shares of Range Resources to a “sell” rating in a research note on Wednesday. Piper Sandler cut their price target on Range Resources from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, Mizuho decreased their price objective on Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.00.

Insider Buying and Selling at Range Resources

In other Range Resources news, Director Charles G. Griffie bought 1,275 shares of Range Resources stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $31.46 per share, with a total value of $40,111.50. Following the completion of the acquisition, the director now owns 5,921 shares of the company’s stock, valued at approximately $186,274.66. This represents a 27.44 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.45, for a total value of $399,415.00. Following the transaction, the vice president now directly owns 9,670 shares in the company, valued at approximately $304,121.50. This represents a 56.77 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

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.