Range Resources (NYSE:RRC) Announces Quarterly Earnings Results

Range Resources (NYSE:RRC) announced 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. Range Resources had a net margin of 17.63% and a return on equity of 13.69%. The company had revenue of $626.42 million for the quarter, compared to analysts’ expectations of $676.53 million. During the same period last year, the firm posted $0.63 earnings per share.

Range Resources Stock Up 2.7 %

Shares of NYSE:RRC traded up $1.00 during trading on Wednesday, hitting $38.50. 1,834,585 shares of the company were exchanged, compared to its average volume of 2,573,367. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 5.11 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.28. Range Resources has a fifty-two week low of $27.29 and a fifty-two week high of $41.95. The firm has a fifty day moving average price of $37.71 and a two-hundred day moving average price of $33.83.

Range Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. Range Resources’s dividend payout ratio is 16.16%.

Analysts Set New Price Targets

Several research analysts have weighed in on RRC shares. StockNews.com upgraded Range Resources to a “sell” rating in a report on Wednesday, November 27th. Wolfe Research upgraded Range Resources from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, January 3rd. Piper Sandler increased their target price on Range Resources from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Benchmark reaffirmed a “hold” rating on shares of Range Resources in a research note on Friday, January 17th. Finally, Truist Financial increased their price objective on shares of Range Resources from $31.00 to $35.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Range Resources has an average rating of “Hold” and an average price target of $38.83.

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.