Range Resources Corporation (NYSE:RRC) announced a quarterly dividend on Friday, December 1st, RTT News reports. Investors of record on Friday, December 15th will be paid a dividend of 0.02 per share by the oil and gas exploration company on Friday, December 29th. This represents a $0.08 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, December 14th.

Range Resources has decreased its dividend by an average of 20.6% annually over the last three years. Range Resources has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Range Resources to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 14.8%.

Shares of Range Resources (NYSE:RRC) traded down $0.35 during mid-day trading on Wednesday, reaching $16.35. The company had a trading volume of 7,860,700 shares, compared to its average volume of 5,914,303. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4,143.93, a price-to-earnings ratio of 46.39 and a beta of 0.91. Range Resources has a twelve month low of $15.91 and a twelve month high of $36.89.

Range Resources (NYSE:RRC) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $482.20 million for the quarter, compared to analyst estimates of $543.16 million. Range Resources had a positive return on equity of 1.63% and a negative net margin of 2.23%. Range Resources’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. research analysts anticipate that Range Resources will post 0.44 EPS for the current year.

A number of equities analysts have commented on RRC shares. Cowen reissued a “buy” rating and issued a $35.00 price objective on shares of Range Resources in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $35.00 price objective on Range Resources and gave the stock a “buy” rating in a research note on Thursday, October 19th. Scotiabank reissued a “buy” rating and issued a $30.00 price objective on shares of Range Resources in a research note on Monday, October 9th. Vetr raised Range Resources from a “buy” rating to a “strong-buy” rating and set a $22.02 price objective on the stock in a research note on Monday, October 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Range Resources in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $30.98.

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Range Resources Company Profile

Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.

Dividend History for Range Resources (NYSE:RRC)

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