Range Resources Co. (NYSE:RRC – Get Free Report) announced a quarterly dividend on Friday, August 30th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.08 per share by the oil and gas exploration company on Friday, September 27th. This represents a $0.32 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, September 13th.
Range Resources has a payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Range Resources to earn $2.95 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 10.8%.
Range Resources Trading Down 0.4 %
RRC opened at $29.88 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $7.23 billion, a PE ratio of 15.17 and a beta of 1.88. Range Resources has a 1-year low of $27.29 and a 1-year high of $39.33. The firm has a 50-day moving average price of $31.86 and a two-hundred day moving average price of $33.72.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Scotiabank upgraded shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price target for the company in a research report on Tuesday, August 20th. Piper Sandler cut shares of Range Resources from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $31.00 in a research report on Thursday, August 15th. Wolfe Research initiated coverage on shares of Range Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Mizuho lifted their price objective on shares of Range Resources from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.11.
Get Our Latest Stock Report on Range Resources
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.
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