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

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

Range Resources Stock Up 1.6 %

RRC stock traded up $0.49 during trading on Thursday, hitting $31.44. 3,716,619 shares of the company’s stock traded hands, compared to its average volume of 2,369,264. The business has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $33.08. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $7.63 billion, a P/E ratio of 15.77 and a beta of 1.80. Range Resources has a 1 year low of $27.29 and a 1 year high of $39.33.

Range Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.02%. Range Resources’s payout ratio is presently 16.24%.

Insider Buying and Selling at Range Resources

In other news, VP Ashley Kavanaugh sold 12,700 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $304,121.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RRC shares. Jefferies Financial Group raised their price objective on Range Resources from $34.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, July 8th. The Goldman Sachs Group dropped their price objective on shares of Range Resources from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Wells Fargo & Company raised shares of Range Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $35.00 to $39.00 in a research note on Tuesday, October 1st. Barclays raised shares of Range Resources from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $35.00 to $34.00 in a research note on Wednesday, October 2nd. Finally, Scotiabank raised shares of Range Resources from a “sector perform” rating to a “sector outperform” rating and set a $45.00 price objective on the stock in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.