Range Resources (NYSE:RRC) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Range Resources (NYSE:RRC) announced its earnings results on Tuesday. The oil and gas exploration company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.16, Briefing.com reports. Range Resources had a return on equity of 13.93% and a net margin of 17.62%. The company had revenue of $615.03 million for the quarter, compared to the consensus estimate of $617.90 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was up .9% on a year-over-year basis.

Range Resources Trading Up 3.5 %

Shares of NYSE RRC opened at $30.95 on Thursday. The business has a fifty day simple moving average of $30.21 and a 200-day simple moving average of $33.08. The company has a market cap of $7.51 billion, a price-to-earnings ratio of 15.70 and a beta of 1.80. Range Resources has a 12 month low of $27.29 and a 12 month high of $39.33. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.

Range Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Friday, September 13th. Range Resources’s dividend payout ratio (DPR) is presently 16.24%.

Insiders Place Their Bets

In other Range Resources news, VP Ashley Kavanaugh sold 12,700 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.45, for a total value of $399,415.00. Following the completion of the transaction, the vice president now directly owns 9,670 shares in the company, valued at $304,121.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Range Resources from $37.00 to $31.00 and set an “underweight” rating for the company in a report on Thursday, September 12th. The Goldman Sachs Group lowered their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Mizuho cut their target price on shares of Range Resources from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $39.00 price objective on shares of Range Resources in a research note on Thursday, July 25th. Finally, Morgan Stanley decreased their price target on shares of Range Resources from $33.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.12.

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.