Range Resources (NYSE:RRC) Announces Earnings Results, Beats Expectations 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 analysts’ consensus estimates of $0.55 by $0.13, RTT News reports. The firm had revenue of $626.42 million during the quarter, compared to analysts’ expectations of $676.53 million. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. During the same quarter in the prior year, the business earned $0.63 EPS.

Range Resources Stock Performance

Shares of NYSE RRC opened at $38.49 on Thursday. The company has a market cap of $9.29 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.78. Range Resources has a 12 month low of $27.29 and a 12 month high of $41.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day simple moving average of $37.82 and a 200-day simple moving average of $33.86.

Range Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Range Resources’s dividend payout ratio (DPR) is presently 16.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RRC shares. Piper Sandler increased their price target on shares of Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $40.00 price objective on shares of Range Resources in a research note on Tuesday, January 14th. Stephens raised their price objective on shares of Range Resources from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Range Resources from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Range Resources has a consensus rating of “Hold” and a consensus target price 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.